Evraz/TMK/Ipsco Tubulars
Ipsco Tubulars continues to experience some twists and turns. In the biggest deal in Canada so far this year, Russian steelmaker Evraz Group SA agreed March 14 to pay $4 billion for Ipsco Tubulars, the North American plate and pipe subsidiary of Sweden’s SSAB Svenskt Staal. Once the deal is complete, Evraz plans to sell most of Ipsco Tubulars’s U.S. assets to Russia’s OAO TMK for $1.7 billion. Evraz will keep Ip-sco’s Canadian assets.
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