Severstal Said to Near Sale of U.S. Plants for $2 Billion

OAO Severstal, the Russian steelmaker controlled by billionaire Alexey Mordashov, is close to an agreement to sell its U.S. plants to Steel Dynamics Inc. and AK Steel Holding Corp., people familiar with the matter said.

The deal, which could be announced as soon as next week, may value the two plants at just over $2 billion, said the people, who asked not to be identified discussing a private matter. Steel Dynamics would purchase Severstal’s plant in Columbus, Mississippi, while AK Steel would get the factory in Dearborn, Michigan, one of the people said.