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13 November 2007

Severstal to Buy Out ArcelorMittal in Venture, Interfax Says

OAO Severstal plans to buy the 50 percent it doesn't already own in a metal cord venture with ArcelorMittal, Interfax said, citing an unidentified person close to Severstal.  Severstal's wire unit, Severstal-Metiz, and Arcelor's Trefilarbed unit formed the venture in 2005. Talks on the buyout are almost complete, the news agency said.

Bloomber
Yuriy Humber

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