Novolipetsk Steel, one of the world’s largest steel producers, is going to acquire Novexco Limited based in Cyprus and Novex Trading (Swiss) for ?77 million from American United Steel Group. The closing of the agreement is expected as soon as the regulatory authorities approve the deal.
      
      This transaction is in line with the company’s strategy to establish an international trading department. Besides, the deal is to tighten control over export supplies and to expand the company’s presence on the key export markets.
      
      source:
      www.rbc.ru