Severstal emerges as Stelco's potential buyer

Severstal emerges as Stelco’s potential buyer

According to recent news in the market, Russian steel producer Severstal has been in talks with Canadian bankrupt steel producer Stelco Inc to reveal its takeover intentions. As previously reported by SteelOrbis, Russian steel maker announced that it plans to acquire certain mills abroad to reach its goal of becoming one of the world's six largest steel producers. Stelco officials stated that there are certain investors interested in the company, however declined to comment on the possible bidders.