NLMK (LSE: NLMK) (“NLMK”), one of the world’s leading steel companies, is pleased to announce the completion of the previously announced deal to purchase the remaining 50% interest in Steel Invest and Finance (“SIF”) from Duferco Group (“Duferco”). The transaction will result in SIF becoming a 100% owned indirect subsidiary of NLMK. The cash consideration for the transaction is c.$600m, payable in four equal annual installments. The Company will finance the transaction out of existing funds.

As part of the transaction, SIF has transferred to Duferco Group certain non-core assets consisting of long products operations with 0.3 m tpa capacity and Belgian steelmaking operations with 3 m tpa capacity.

The acquired SIF rolling assets are consolidated on NLMK’s balance sheet from July 1, 2011. The EU regulatory authorities have already granted clearance to this acquisition.