NLMK closes Viz-Stal deal

Novolipetsk Steel (NLMK) of Russia has announced today the closure of the deal on the purchase of 100 percent stake in Viz-Stal. As previously reported by SteelOrbis, the agreement between Viz-Stal and NLMK was reached on June 9, 2006 upon the receipt of the approval from the Federal Antimonopoly Service of Russian Federation (FAS). Viz-Stal will be fully incorporated into NLMK in the middle of August of the current year. The value of the deal is $550 million.