PAO Severstal (SVST)
Completion of Mini-Mill Balakovo Sale
25-Jul-2019 / 14:01 MSK
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Completion of Mini-Mill Balakovo Sale
July 25, 2019, Moscow - 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.
For further information, please contact:
Investor Relations
Evgeny Belov
T: +7 (495) 926-77-66
evgenii.belov@severstal.com
Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
***
P?? Severstal is one of the world's leading vertically-integrated steel and
steel related mining companies, with assets in Russia, Latvia and Poland.
Severstal is listed on RTS and MICEX and the company's GDRs are traded on
the LSE. Severstal reported revenue of $8,580 million and EBITDA of $3,142
million in 2018. Severstal's crude steel production in 2018 reached 12.0
million tonnes. www.severstal.com
ISIN: US8181503025
Category Code: DIS
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
Sequence No.: 14668
EQS News ID: 846951
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 25, 2019 07:01 ET (11:01 GMT)
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