NLMK Group mulls sale of Ural-based assets

Monday, 26 April 2021 17:25:12 (GMT+3)   |   Istanbul
       

According to media reports, Russian steelmaker NLMK Group has decided to propose the sale of its Ural-based subsidiaries, namely its long products plant NLMK Ural, NLMK Metalware, and some assets of NLMK Vtorchermet, in particular.

The value of the deal in question is assessed at $500 million, with Alfa-Bank being appointed as the exclusive financial advisor to the group.

The sale of Ural-based NLMK’s subsidiaries, if it happens, is expected to help NLMK to get rid of outdated assets. Meanwhile, the prospective buyer could also benefit from the purchase due to the ongoing uptrend in the global longs and raw material markets and in particular, amid rising optimism about future developments in this segment. According to the company’s presentation, in the January-February period of the current year NLMK Ural occupied first place in the domestic rebar market, with export shipments exceeding a thirty percent share of its total rebar shipments.


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