OREANDA-NEWS. The meeting of the Board of Directors of Lucchini SpA, held on 29th  March 2007, examined the proposals and letters of interest sent by several  national and international market operators, to buy 100% share owned  by Licchini SpA in the subsidiary “Lucchini Sidermeccanica Spa”, reported the press-centre of  Severstal. Having examined the several proposals received, the Board of Directors passed the resolution to accept the bidding offer presented by SINPAR SpA (a company of Lucchini Family); the value of the binding offer accepted corresponds to the valuation opinion researched by a reputable Italian Bank.


The value of acquisition based on the enterprise value of 215 million Euros is payable within 30 days from the signature of the purchase agreement subject to receipt any necessary untitrust approvals which will be in April 2007. CEO Mr.Giovanni Gillerio will execute this operation and withdraw Lucchini SpA from a market sector, which is not linked with its own core business and to concentrate the Group’s strategy and investment plan  on the Plant at Piombino.