Corsa completes buy of PBS Coals

Aug 20, 2014 | 06:02 PM | Michael Cowden

Tags  Severstal, PBS Coals, Corsa Coal, George Dethlefsen, Quintana Capital Group, Keith Dyke, Sprott Resource, Athur Einav metallurgical coal

CHICAGO — Canadian coal miner Corsa Coal Corp. has completed its $60-million acquisition of PBS Coals Inc., the North American coal assets of OAO Severstal.

The Moscow-based steelmaker said the deal, announced in July (, July 15), will boost shareholder value and represents a move to divest an operation it no longer needs.

"For Severstal, with its asset portfolio, PBS Coals is a business which is not operationally linked to the company’s steel facilities," the steelmaker said Aug. 20.....

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