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OAO Severstal sells 50.8% of Lucchini S.p.A. to a Company controlled by Alexey Mordashov

30.06.2010

OAO Severstal (LSE: SVST; RTS: CHMF), one of the world’s leading steel and mining companies, announces that today it has completed the sale of 50.8% of Lucchini S.p.A. to a Company controlled by Alexey Mordashov for a consideration of one euro. On May 14th, 2010 OAO Severstal announced that as at 31st March 2010 Lucchini S.p.A. was classified as held for sale and was presented as a discontinued operation in the Company’s accounts. The transaction will protect the interests of OAO Severstal's shareholders, improve the Company's financial stability, provide additional flexibility for the Lucchini S.p.A. sale process and for the negotiation of amendments to the terms of Lucchini’s credit agreements.

Following closing of the deal, Mr. Mordashov becomes the controlling shareholder of Lucchini S.p.A.  with full power to direct its management and policies. As part of the transaction, OAO Severstal retains the right to  re-acquire the stake from Mr Mordashov for one euro. In addition, any gain Mr. Mordashov may realize on a subsequent sale of this 50.8% stake to a third party will be transferred to OAO Severstal.

Sales contacts

Severstal Resources

T: +7 (495) 981 0910

F: +7 (495) 981 0918

 

Severstal Russian Steel

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Severstal International

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Vladimir Zaluzhsky
Head of Investor Relations
Email
T/f: +7 (495) 926 7766/67 ext.6375

PR contacts

Elena Kovaleva
Head of External Communications
Email
T/f: +7 (495) 926 7766/67 ext.6447

HR contacts

Tatiana Ovchinnikova
HR Department Manager
Email
T: +7 (495) 926 7761


Aishat Chekunova
HR Department Manager
Gold Segment
Email
T: +7 (495) 981 0910 ext.6681
F: +7 (495) 981 0918

CSR contacts

Natalia Poppel
Head of Corporate Social Responsibility
Email
T/f: +7 (495) 926 7766 ext.6449

Corporate Secretary

Oleg Tsvetkov
Corporate Secretary of OAO Severstal
Email
Phone: +7 (8202) 53 0900
Fax: +7 (8202) 53 2159