Alexey Mordashov, CEO of Russian steel producer Severstal, has confirmed he is ready to sell the
Italy-based steelmaker Lucchini Group for the symbolic amount of a single euro, according to an interview published by Russian newspaper Kommersant.Asked about the latest rumors of a likely sale of the group, Mordashov answered, "We do not control Lucchini and do not know what is going on. We have an arrangement with the banks that they control the company as they are its main creditors. We only have a clear obligation to sell the company for €1. They are looking for better prospects of a return on their loans in Lucchini."