25 Jul 2019 12:01
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
*** PАО 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 |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
SVST.L (SVST)