A Court appointed trustee has completed the sale of ArcelorMittal’s Sparrows Point steel mill to OAO Severstal for $810 million. ArcelorMittal’s press-service reported the development.

Joseph G. Krauss, the divestiture trustee, was required to sell the mill by a decree of consent entered into on May 23, 2007 in the United States District Court for the District of Columbia.  The decree was made in order to comply with an anti-trust ruling concerning the approval of the merger between Mittal Steel and Arcelor SA in 2006.

In mid-April, the U.S. Department of Justice approved Severstal’s acquisition of Sparrows Point. The deal was struck in mid-March 2008.

Earlier, Esmark Inc. planned to acquire Sparrows Point for $1.35 billion. But in December 2007 Esmark fell into bankruptruptcy.

UNIAN reference: In October 2005, Mittal Steel Germany GmbH purchased 93.02 percent of VAT Kryvorizhstal, which was later renamed ArcelorMittal Kryvy Rig.

VAT ArcelorMittal Kryvy Rig is Ukraine’s leading steel producer. It produces raw steel, finished steel, cast iron, and sinter. Roughly 90 percent of the plant’s output is earmarked for export.

On July 18, 2006, Mittal Steel announced a merger with Arcelor. ArcelorMittal is now the world’s leading steel producer, operating in over 60 countries.

Severstal is one of Russia’s largest metallurgical companies by export. It owns Severstal North America and Lucchini (the EU).

Severstal primarily produces goods with a high added value. The company produces steel plates, used in the automobile and pipe industry and also in heavy engineering.

The U.S. company Sparrows Point, based in Maryland, is a steel mill that produces rolled metal for preserve cans, for aerosol and paint containers.