The Russian steelmaker Severstal has announced that its Italian unit Lucchini Spa has agreed to sell its subsidiary Lucchini Sidermeccanica Spa to SINPAR Spa (a company owned by the Lucchini family) for €215 million, payable within 30 days from the date of signing of the purchase agreement.
The agreement is subject to antitrust authority approval.
Lucchini Spa CEO Mr. Giovanni Gillerio has stated that the company intends to concentrate on its core business after the Lucchini Sidermeccanica sale, in particular on its strategy and investment plans for its Piombino plant.