WHEELING, W.Va. (AP) -- Russia's OAO Severstal has completed its acquisition of Esmark Inc. for $760 million plus the assumption of debt and loans.
Esmark announced the deal's completion Tuesday morning. Severstal's assumption of debt and loans puts the deal's total value at $1.25 billion.
Wheeling-based Esmark will now operate as Severstal Wheeling Holding Company.
Esmark's businesses include Wheeling-Pittsburgh Corp., which has plants in Ohio, West Virginia, Pennsylvania. It will be renamed Severstal Wheeling Inc.
Severstal's existing operations include a plant in Warren in northeast Ohio.
