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| Aug 21. The federal budget revenue is projected at RUB 10.92 tn in 2009, or 21.2% of GDP, and the surplus is scheduled at RUB 1.90 tn, or 3.7% of GDP, >>> | | Aug 21. Russian President Dmitry Medvedev and President of the Syrian Arab Republic Bashar al-Assad are to discuss Syrian-Russian trade and economic cooperation issues in Sochi Thursday. >>> | | Aug 21. Mechel Group forwarded a recommended cash offer to minority shareholders of British Oriel Resources. >>> |
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News22.07.2008 11:02 July 22. Severstal, Indian-based Essar, China-based Shagang and a consortium of Japanese companies are at the second stage of the struggle for CSN's iron-ore subdivision in Brazil, sources familiar with the situation said. The Brazilian-based steelmaker CSN hired an investment bank to sell its iron-ore subdivision, Namisa, or part of it, in 2008. One of the sources said that the investment bank had evaluated the asset at USD 10 bn, which is the maximum price given by the analysts, while some other banks valued Namisa at USD 7-8 bn. The interest in Namisa reflected the growing demand for iron-ore raw, necessary for steel production. According to the same sources, Indian-based Tata Steel and JSW, as well as ArcelorMittal have filed bids to participate in the tender for Namisa, but it is currently unclear which of them have stayed in the race. Two Chinese consortiums also seek the asset: one of them is the consortium of Baosteel Group and Shougang Group, and the other is Shagang Group. In line with expectations, the second stage bids will start being considered in a few weeks. CSN said earlier that it was willing to sell the asset by late September.
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