Severstal North America Announces Sales Agreement for Select Northern Steel Group Assets

Skadden is representing OAO Severstal in connection with a definitive agreement entered into by Severstal North America (a part of OAO Severstal's international division) to sell certain assets operated under Northern Steel Group, Inc., a leading steel services business, to an affiliate of Aurora Resurgence, a California-based private equity fund. The purchase price for the deal, announced April 27, was not disclosed.