News

11 March 2009

NLMK and DBO Holdings, Inc. signed settlement agreement

NLMK and DBO Holdings, Inc. have signed a settlement agreement with respect to their dispute concerning NLMK’s proposed acquisition of John Maneely Company, which NLMK terminated in November 2008. The agreement provides for the full mutual release and discharge by NLMK and DBO from their claims arising from the transaction. Pursuant to the terms of the settlement agreement, NLMK will pay DBO a settlement amount of US$234 million within four business days of signing.