Wednesday, January 24, 2007

Russia's Evraz Group completes acquisition of Oregon Steel

Russian coal and steel producer Evraz Group SA said Wednesday that it has completed its acquisition of Oregon Steel Mills Inc., one of the largest investments in the United States by a Russian company.

Evraz agreed in November to buy Oregon Steel for US$2.3 billion (€1.8 billion), or $63.25 a share in cash. The deal received U.S. regulatory approval on Jan. 10, and Evraz said last week that it had received more than 90 percent of the nearly 36 million shares of Oregon Steel stock — enough to bypass a shareholder vote.

Link to full story - International Herald Tribune


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