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Ahead of official announcements by Severstal and Lucchini, sources close to the Russian steelmaker expect that Severstal will sign an agreement this week to pay $570 million for a 62-percent stake in the Italian steelmaker, Lucchini. The family-owned business has been losing more than a quarter of a billion dollars per year, and is carrying […]

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By John Helmer in Moscow Limits on the transfer of shares between Russia’s state-controlled tanker companies, Novorossiysk Shipping Company (Novoship) and Sovcomflot, will fall short of the ambition of Sergei Frank, former Transport Minister and chief executive of Sovcomflot for two years. An international IPO of what may be, potentially, the third largest oil tanker […]