The US Justice Department has announced the granting of its approval for the proposed sale of US-based flat steel producer Sparrows Point to Russian steelmaker Severstal.
Severstal had reached an agreement with ArcelorMittal, the world's largest steel producer and previous owner of Sparrows Point, on the purchase of the mill in late March. ArcelorMittal was forced to sell Sparrows Point to settle antitrust concerns.