Severstal sells Ukrainian business

Severstal sells Ukrainian business

Published: December 8, 2014

Russian steel company strikes deal with German acquirer.

Russian steel company Severstal is offloading a Ukrainian business to an unnamed German acquirer.

In a stock market announcement the company said its Austrian subsidiary Severstal-Trade has agreed to sell Dneprometiz, a Ukrainian business managed by Severstal-metiz, which oversees a group of Severstal metalware assets. The price wasn’t disclosed.

Severstal acquired a 60% stake in Dneprometiz in 2006 and increased its stake to 98.6%.