GREY:HRIVF - Post by User
Post by
cjsellon Jul 02, 2009 12:37pm
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Post# 16112930
Website reports HRG divestiture by Severstal
Website reports HRG divestiture by SeverstalI am sure this information is incorrect but you never know. The link below will take you to a historical listing of mergers, acquisitions and divestitures by Severstal. In the middle of the screen you will see a panel, you can scroll to the left (by clicking and dragging your mouse to the right). It clearly shows the investment in HRG, but now displays the divestiture symbol (not kidding). I have looked at the site for quite some time, and this is the first time I have seen the divestiture symbol with HRG. I can find no other news to support this though.
https://www.alacrastore.com/mergers-acquisitions/Severstal-2504039
However given the credit situation with Severstal anything is possible. Maybe they will spin out their gold businesses to raise their cash positions because their steel assets are/have been tanking BIG TIME.
Their year over year stock price has decreased from $25 July 08 to 5.36 July 09. (in USD) 7 billion in debt 2.5 billion in cash. Stock price down 80%....
GB:SVST
CJ