Completion of Mini-Mill Balakovo Sale

Source: www.gulfoilandgas.com 7/25/2019, Location: Asia

PAO Severstal, one of the world’s leading steel and steel-related mining companies, announces that it has completed the sale transaction of Mini-Mill Balakovo to Abinsk Electric Steel Works LTD. The consideration of the transaction is $215 million.

The sale of Mini-Mill Balakovo will enable Severstal to focus fully on steel production at its main asset, the Cherepovets Steel Mill (CherMK). As a result, the Company will streamline its internal processes in order to successfully execute its updated strategic priorities.

Following the sale of Mini-Mill Balakovo, Severstal will continue to supply long products via its long product facilities at CherMK.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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