Announced
Completed
Financials
Sources
Tags
Latvia
Friendly
Acquisition
Majority
Completed
industrial
Single Bidder
iron & steel
Diversified Industrials
Cross Border
Private
Synopsis
Marcegaglia, an Italian industrial group, completed the acquisition of the Latvian unit of Severstal, a steel company. Financial terms were not disclosed. Funds for the purchase have not been paid to Severstal but instead transferred into an escrow account where they will remain frozen as long as EU sanctions against the Kremlin remain in place.
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