NLMK, Sogepa JV closes deal to consolidate 100% of NLMK Dansteel

MOSCOW. Oct 27 (Interfax) - NLMK Belgium Holdings (NBH), a joint venture between Russian steel major NLMK and Belgian investment fund Sogepa, has closed a deal to acquire 100% of NLMK Dansteel, the European division of NLMK said in a statement.

EU regulatory approval was received at the beginning of October.

Located in Frederiksvaerk, Denmark, DanSteel is a premium manufacturer of hot-rolled steel plates.

"The consolidation of Dansteel within the NBH perimeter will further optimize European assets' management structure and provide additional strategic flexibility and synergies. The Merged Group, will offer one of the widest plate product portfolios in Europe and globally for customers active in shipbuilding, civil engineering, yellow goods, mining, lifting, transport and wind energy," NLMK has said.

"Consolidation of assets and portfolio's strengthening will allow NLMK to reduce transaction costs and optimize its operations in foreign markets," it said.

The terms of the deal were not disclosed.