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26 December 2006

Severstal buys Severstal-Metiz' offering for 935 mililon rubles

Russian steel producer Severstal has acquired a private offering of affiliated Severstal-Metiz, which offered 11 million shares with a face value of 0.01 rubles each, for 935 million rubles, Severstal-Metiz said in a statement Tuesday. Severstal is expected to close the deal by Thursday, Severstal-Metiz said.

Before the deal, Severstal-Metiz’s charter capital was split into 949.368 million shares with a face value of 0.01 rubles each.

Severstal-Metiz is Russia's largest metal hardware producer. It accounts for 35% of Russia's metal hardware market. Severstal-Metiz has production facilities in Cherepovets, Oryol, Volgograd, and Ukraine's Dnepropetrovsk.
Severstal is the flagship company of Severstal Group, and Severstal-Metiz is also part of Severstal Group.
(26.3528 rubles - U.S. $1)

Prime-TASS News (Russia)

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