Severstal says selling U.S. subsidiaries for $2.3 billion

MOSCOW, July 21 Mon Jul 21, 2014 2:13am EDT

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MOSCOW, July 21 (Reuters) - Russia's Severstal, one of the largest steel producers in the country, said on Monday it had agreed to sell its subsidiaries in the United States for $2.3 billion.

The company said it would sell its Severstal Columbus and Severstal Dearborn subsidiaries to Steel Dynamics and AK Steel Corporation, respectively. The deal is expected to be closed by the end of the year. (Reporting by Lidia Kelly; Editing by Maria Kiselyova)