Steel Mills
July 7, 2014
Bids for Severstal NA Pointing Toward SDI as Lead Bidder
Written by John Packard
Our sources close to the process are advising Steel Market Update that bids on the Severstal North America steel mill assets are due on July 2, 2014. If, and if is a big question with this potential transaction, the bids are acceptable to the Russian parent company, the deal to sell the mills could be signed by the end of July. But, as one participant put it to us earlier this week, “We don’t know what they are really thinking frankly. Maybe he’ll sell it, maybe he won’t.”
We understand that CSN is once again one of the bidders for both plants. This was confirmed by the Wall Street Journal which put out an article on the subject during the month of June.
