Severstal sells all its assets in the USA

Severstal has found buyers for its steel rolling plants in the USA - the local Steel Dynamics Inc. and AK Steel Holding Corp. The total amount of the transaction, including debt, will exceed $2 billion, and the parties' agreement could be announced this week. Severstal moves out from the USA completely: the buyers of the plants will receive also shares in the assets-related enterprises and the company sells its coal business to Canadian Corsa Coal Corp.

Severstal of Alexei Mordashov is close to the conclusion of an agreements to sell its U.S. plants with local companies Steel Dynamics Inc. and AK Steel Holding Corp., the Bloomberg reported, referred to its sources. According to the agency, Steel Dynamics will buy Severstal’s plant Columbus (Mississippi), and AK Steel - Dearborn (Michigan); the total amount of the transaction will be over $2 billion, the deal could be announced in the coming days. This information was confirmed by a source of the Kommersant, who is familiar with the situation. According to the Kommersant, Severstal’s coke producer Mountain State Carbon LLC and shares in Double Eagle Steel Coating Company (a parity joint venture with US Steel Corp.), Spartan Steel Coating LLC (48%) and Mississippi Steel