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Russia's Severstal sells U.S. plants to AK Steel and Steel Dynamics
July 21, 2014 / 6:20 AM / in 3 years

Russia's Severstal sells U.S. plants to AK Steel and Steel Dynamics

July 21 (Reuters) - Steel Dynamics Inc will buy Severstal’s Columbus mini-mill for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker’s assets in Dearborn, Michigan for $700 million in cash.

AK Steel said the deal also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.

Severstal had said in May that it was considering a range of strategic options for its North American operations. (Reporting by Supriya Kurane in Bangalore; Editing by Mark Potter)

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