Cadwalader Reps Renco In $1.2B Deal For 3 Steel Cos.

Law360, New York (March 2, 2011, 4:15 PM EST) -- The Renco Group Inc. announced Wednesday the creation of a new subsidiary made of three steel companies it is purchasing from Severstal US Holdings LLC for $1.2 billion, making the new company the fourth-largest flat rolled steel producer in the U.S.

Severstal, a subsidiary of the Russian-based steel producer OAO Severstal, is selling its operations in Warren, Ohio; Wheeling, W.Va.; and Sparrows Point, Md., to RG Steel LLC, Renco’s newly formed subsidiary, in a transaction expected to close this month.

RG Steel will also acquire a...
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