Rautaruukki to acquire Russian Ventall

Finnish steelmaker Rautaruukki Corporation announced on Friday that it reached an agreement to purchase Russia's leading steel constructor OOO Ventall from the company's operative management. The price for the shares is reportedly Euro 97.5 million. The deal covers Rautaruukki's assumption of the company's interest-bearing debts of Euro 3 million. The transaction is still subject to the approval of competition authorities. The transaction is expected to be finalized in May 2006. Located in Obnisk in the Kaluga region, Ventall is the leading steel constructor in Russia.