Aurora Capital Buys Steel Facilities from Severstal

NEW YORK (Reuters) – U.S. investment firm Aurora Capital Group agreed on Wednesday to acquire four steel service center facilities from Northern Steel Group, a unit of Russia’s Severstal OAO (CHMF.MM), for undisclosed terms.

Patrick Murley, chief executive of Northern Steel, will be CEO of a new company comprised by Northern’s Miami Valley Steel Service, Premier Resource Group, Electric Coating Technology and U.S. Metals & Supply.

The deal is expected to close in the second quarter, pending antitrust regulatory approvals. (Reporting by Joseph A. Giannone; editing by Andre Grenon)