May 11 Russian steelmaker Severstal
has put its North American operations on the auction block,
according to people familiar with the matter, The Wall Street
Journal reported on its website.
Officials at Severstal were not immediately available for
comment Sunday afternoon.
Severstal's North American operations, comprised of two
steel plants in Michigan and Mississippi, could fetch $1.5
billion or more, some of the people said, the paper reported in
an article dated on Friday.
Severstal, Russia's second largest steelmaker, has fielded
interest from at least two potential buyers, some of the people
said, citing United States Steel Corp and Brazil's
Companhia Siderurgica Nacional SA, according to the
Pittsburgh-based U.S. Steel is said to be most interested in
Severstal's mill in Dearborn, Michigan. The plant services U.S.
automakers in Detroit with long coils of sheet steel, the
essential building blocks of cars and trucks, and is near a U.S.
Steel facility, the paper said.
(Reporting by Scott DiSavino; Editing by Leslie Adler)