The mooted joint venture is expected to purchase assets in Duferco Farrell Corporation (U.S.), Carsid SA (Belgium), Duferco Clabecq SA (Belgium), Duferco La Louviere SA (Belgium), Duferco Coating SAS (France), Sorral SA (France), Acciaierie Grigoli S.p.a. (Italy), and Duferco Transformation Europe (France).
The company said the deal could be completed by the end of the year if approved by antimonopoly bodies.
On October 13 Novolipetsk Steel, one of Russia's biggest steel and rolled stock producers, turned to the European Commission requesting permission to purchase assets in Duferco and Steel Invest.
In August this year Novolipetsk Steel bought a 100% stake in the Urals-based VIZ-Stal steel producer for $550 million. Duferco was the main shareholder of VIZ-Stal before the deal.
