Published: July 21, 2014
Russian group exits North American assets in deals worth a combined US$2.3bn.
Russian steel group Severstal has agreed to sell its assets in North America for US$2.3bn.
The group is offloading Severstal Columbus and Severstal Dearborn – which were known together as Severstal North America – to Indiana-based Steel Dynamics Inc and Ohio’s AK Steel Corporation, respectively.
The deals are expected to close by the end of the year. Evercore and Citigroup acted as financial advisers to Severstal.