Severstal To Spin Off Nord Gold In Convoluted Transaction

Alexei Mordashov, who owns 82% of Severstal, is the second-richest man in Russia, and he still dreams of being the richest.  Towards that end, Severstal announceda convoluted plan to spin off its Nord Gold unit.  Severstal had previously hoped to float the unit in London, but pulled the plan when it became clear that the valuation would be… Read More »