
	Where results make sense

Topic: Alexei Mordashov

In the News (Thu 16 Feb 12)

EXECUTIVE POWER

Iran

ANALYSIS

Pakistan

Family compact

	www.mineweb.net \| columns \| emerging russia Russian white knight turns quixotic in Arcelor steel bid (Site not responding. Last check: 2007-10-12)
		However, Russian steelmaker Alexei Mordashov appears so keen to sell out his assets, and ride his rapidly thinning charger out of the Russian steel sector, he has agreed to give Arcelor, Europe's largest steelmaker, another Eur2.5 billion in asset value, in return for a smaller shareholding stake in the company.
		Mordashov holds 89.5% of Severstal's shares, and so in its announcement of the new offer, Severstal's website announcement avoids the embarrassment of explaining to minority shareholders why the boss has accepted the devaluation of his own shares.
		The one modest improvement Mordashov can now claim from his throwing more value at Arcelor is that he's been permitted to say that he may "vote his shares in line with normal shareholder practice." That's a discreet way of saying that the previous conditions were far from normal.
	www.mineweb.net /columns/emerging_russia/573783.htm (1310 words)

	Asia Times Online :: Central Asian News and current affairs, Russia, Afghanistan, Uzbekistan
		Alexei Mordashov of Severstal, the third-ranked Russian steelmaker, and a 40-year old man with enormous personal vanity, has been persuaded by some desperate, but clever, fellows in Luxembourg that, to watch his own sun going down, and exiting Russia, Mordashov should pay a ticket price of US$2.66 billion.
		Mordashov has been announcing publicly since 2004 that he wishes to be the world's largest steelmaker, or at least the equal of Mittal and Arcelor.
		Mordashov, Arcelor announced, is to be appointed the non-executive "president" of the Arcelor board of directors, and have the right to appoint six of 18 directors.
	www.atimes.com /atimes/Central_Asia/HF01Ag01.html (2793 words)

	Arcelor to Merge With Russian Steel Company - New York Times
		Mordashov appeared to represent an alternative to a takeover by Mittal, which is based in the Netherlands and is largely run by Lakshmi Mittal, a steel baron from India, and his family.
		Mordashov is also offering a stake in all of Severstal's steel assets and an Italian steel maker, Lucchini, and is contributing 1.25 billion euros in cash from his personal fortune to form "a company that is going to be by far the world market leader in steel," he said in a telephone interview.
		Mordashov said he would not have an opportunity to vote directly against any decision by Arcelor shareholders to merge with Mittal because he would become a shareholder only after a vote on the deal, which is expected in late June.
	www.nytimes.com /iht/2006/05/26/business/26cnd-steel.html?pagewanted=print (1059 words)

	Russian tycoons uneasy after Yukos affair -DAWN - International; November 13, 2003
		Mordashov, chairman of privatized steel giant Severstal, was talking about the arrest of Mikhail Khodorkovsky, his fellow “oligarch”, whose arrest on corruption and tax evasion charges has sparked market turmoil and a political crisis in Russia.
		Mordashov’s “kingdom” has a very physical location: Cherepovets, a town 385 miles north-east of Moscow, which is economically dependent on Severstal’s huge steel plant.
		People like Mordashov, who took the reins at Severstal at 27, had to be exceptionally tough to get to the top.
	www.dawn.com /2003/11/13/int19.htm (894 words)

	Arcelor Turns to Alexei Mordashov - www.prosperitycapital.com (Site not responding. Last check: 2007-10-12)
		Mordashov said he saw a long-term future in the merger and was happy to invest his assets and cash in the deal.
		On Friday, Mordashov denied that he had sought the president's approval on the merger deal, while a spokeswoman for Severstal said the two had mostly discussed the supply of wide-diameter steel pipes to Russia's oil pipelines and social projects at the Sochi meeting.
		Mordashov insisted on Friday that his acquisition of the Severstal steel plant through a 1992 privatization and his subsequent running of the business were fully in line with the law.
	www.prosperitycapital.com /objects/2202/1884 (1643 words)

	Mordashov could still fight Mittal over Arcelor - Boston.com
		Mordashov is disappointed by the developments but he intends to maintain his offer and even come with an improvement on his offer very soon," French member of parliament Leonce Deprez told reporters after Mordashov's closed-door hearing by the French parliament's economic affairs committee.
		Mordashov is not interested in a three-way deal with Mittal and Arcelor.
		A spokesman for Mordashov, who was at the meeting during which there was a translation between English and French, said nothing had been decided yet.
	www.boston.com /business/articles/2006/06/28/mordashov_could_still_fight_mittal_over_arcelor (635 words)

	www.mineweb.net \| ferro_alloys Bankers say shareholders paying for deals of Russian steelmaker Alexei Mordashov (Site not responding. Last check: 2007-10-12)
		OSCOW (Mineweb.com) --Alexei Mordashov is a young Russian steelmaker and proprietor of iron-ore and coal mines, who became famous in the spring for getting himself thoroughly out-smarted by Lakshmi Mittal and Goldman Sachs in the contest for Europe's largest steelmaker, Arcelor of Luxembourg.
		If Mordashov couldn't beat Mittal in July, the Christmas IPO is now shaping up as a contest he is more likely to win -- one to beat his own shareholders to take cash out of the company.
		It is Mordashov's reluctance to answer questions like these during the public airing of three separate transactions, over the past eight months, that is now threatening his attempt to pass on the shares he has acquired at a fresh premium.
	www.mineweb.net /ferro_alloys/156041.htm (1243 words)

	The St. Petersburg Times - Business - Mordashov Placates Investors in Arcelor
		MOSCOW — Severstal’s Alexei Mordashov said Wednesday that he would accept only 25 percent of steel giant Arcelor, not the 32.2 percent he earlier proposed, if the merger between the two companies went through.
		Mordashov’s proposal, posted on Severstal’s web site, is the latest attempt to placate Arcelor’s shareholders, many of whom have voiced opposition to a deal they call rushed and opaque.
		Given the reduced share, Mordashov says he would drop $1.5 billion in cash he was to bring to the merger alongside his assets.
	www.sptimes.ru /index.php?action_id=2&story_id=17999 (752 words)

	OFII: Newsroom
		The most ambitious of them was Alexei Mordashov, appointed chief financial officer in 1992 at the age of 27.
		Mordashov's main assignment was to make sure management won control of the mill by fending off the Moscow-based tycoons who were scooping up most of the key Russian industrial assets being privatized.
		Mordashov and his allies set up a company called Severstal-Invest that bought steel from the mill and then resold it at a profit.
	www.ofii.org /newsroom/news/040609wsj.cfm (2193 words)

	Russian billionaire's 'heart' made of steel @ workopolis.com (Site not responding. Last check: 2007-10-12)
		Alexei Mordashov is not your typical Russian billionaire.
		Mordashov played down his wealth, estimated to be nearly $8-billion, and his impeccable connections (he reportedly met recently with Russian President Vladimir Putin to discuss the Arcelor deal).
		Mordashov promised to vote along with other board members on the Mittal proposal and he has a stand-still agreement that prevents him from acquiring any more Arcelor shares for four years.
	www.workopolis.com /servlet/Content/qprinter/20060527/RSTEEL27 (670 words)

	NCCG - Biography
		Mordashov was elected the Chairman of the Board of Directors of Severstal.
		Mordashov is a member of the Presidium of the Russian Union of Industrialists and Entrepreneurs (RUIE).
		Alexey Mordashov is a member of an intergovernmental Russian—German committee on the strategic relationship between the two countries.
	www.nccg.ru /en/site.xp/050056052124.html (386 words)

	Son of Russian steel town raises profile in deal with Arcelor
		MOSCOW (AP) - Alexei Mordashov's life has always been tied to the steel plant in Cherepovets, the hardscrabble town in northwest Russia where he was born.
		Mordashov declined to confirm rumours that Putin was consulted about the deal, saying Severstal was a publicly listed company.
		Long on the acquisition path overseas, Mordashov has sought to globalize his businesses and is one of the most high-profile advocates for Russia's accession to the World Trade Organization.
	www.cbc.ca /cp/business/060526/b052666.html (801 words)

	The Andrew Davidson Interview: Russia's man of steel woos the City - Home - Times Online (Site not responding. Last check: 2007-10-12)
		Blue-eyed, fl-haired and super-bright, Mordashov has a very Anglo-centric sense of humour, quick to be self-deprecating and slow to take offence — hardly the inscrutably buttoned-up billionaire you might imagine.
		Mordashov offered Severstal as a white knight to Arcelor, but its shareholders queried just how much his Russian steel interests were worth.
		Kakabadse, a long-time adviser to Mordashov, compares the young Russian’s style to a mix of the late Lord (Arnold) Weinstock and Sir Adrian Cadbury — all-round skills, driving ambition, but with a feel for people and an eye to how things should be done.
	business.timesonline.co.uk /article/0,,8209-2393500,00.html (2074 words)

	Steely ambition of worker who bought the company \| Business \| The Observer
		Alexei Kudrin, the Russian finance minister, has publicly praised the planned merger, evidently seeing it not as a sell-off of Russian assets but as a chance for Russia to participate in a new global corporate leader.
		When The Observer met him in 2003, Mordashov seemed a little nervous: his fellow tycoon, Mikhail Khodorkovsky of Yukos, had just been arrested, and there was speculation that all of those who acquired their vast mineral and energy assets in the murky privatisations of the mid-1990s were vulnerable to punitive government action.
		Mordashov anticipates a healthy demand for steel in the coming decades, thanks in particular to rapid industrial expansion in China, India and Brazil.
	observer.guardian.co.uk /business/story/0,,1799945,00.html (1367 words)

	The St. Petersburg Times - Business - Dirty Laundry a Blessing For Severstal Chief's Foes (Site not responding. Last check: 2007-10-12)
		The court was acting on behalf of Ilya Mordashov, a minor and the son of the plant's 30-year-old general director, and of Yelena, the general director's ex-wife.
		Mordashov paid his wife and son less than an average oligarch pays an estranged mistress without kids.
		Together with the head of St. Petersburg's Promstroibank, Vladimir Kogan, who is believed to be close to President Vladimir Putin, Mordashov had intended to play the dual roles of a St. Petersburg team member and a white knight salvaging the plant from an insidious aggressor.
	www.sptimes.ru /story/5191 (670 words)

	Severstal to remain Russian after merger with Arcelor - Printer Friendly Page - Business/Economy - Telugu Portal (Site not responding. Last check: 2007-10-12)
		Mordashov controls 80 percent of the shares in the Russian steel industry leader.
		The Luxembourg steel giant plans to hold 68 percent of the shares in the new company, while Mordashov holds the remaining 32 percent.
		Mordashov, speaking at a joint press conference with Arcelor's directors, also said that the new company was aiming for net profits of 7.8 billion euros ($10 billion).
	www.teluguportal.net /modules/news/print.php?storyid=4859 (204 words)

	Arcelor, fending off Mittal bid, says it will merge with Russia's Severstal
		Mordashov said the Mittal offer had been a "catalyst" for his deal with Arcelor, though Dolle insisted that his company and Severstal had been in talks since 2002.
		Mordashov would become non-executive president of Arcelor's board of directors and would have the right to nominate six out of 18 board members.
		Mordashov has agreed to vote his shares according to the board's recommendations.
	www.cbc.ca /cp/business/060526/b052604.html (666 words)

	USATODAY.com - Steelmaker Arcelor, fending off Mittal bid, strikes deal with Russia's Severstal (Site not responding. Last check: 2007-10-12)
		Severstal's controlling shareholder Alexei Mordashov will pay 1.25 billion euros ($1.59 billion) in cash and hand over his stake in all of Severstal's steel assets and Italian steelmaker Lucchini.
		Under the deal announced Friday, Severstal's controlling shareholder Alexei Mordashov will pay Arcelor 1.25 billion euros ($1.59 billion) in cash and give it his stake in all of Severstal's steel assets and Italian steelmaker Lucchini.
		Mordashov said the deal would make the new company a world leader in steel for the auto industry.
	www.usatoday.com /money/world/2006-05-26-arcelor_x.htm (1032 words)

	Russian tycoon may hike stake in Arcelor - Boston.com
		According to Interfax, Mordashov said he wanted to increase his "interest to 45 percent, but only as long as this meets the interests of other shareholders and the regulators in Luxembourg.
		A spokeswoman for OAO Severstal said that Mordashov had the option of increasing his stake in Arcelor from 32 percent, but added that it could only happen after five years under the terms of the deal.
		Meanwhile, Mordashov said in an interview that Arcelor was buying back 150 million of its own shares, after which they would be canceled, thus raising his stake to 38.5 percent.
	www.boston.com /business/articles/2006/05/29/russian_tycoon_may_hike_stake_in_arcelor (723 words)

	Asia Times Online :: South Asia news - Battle for Arcelor down to the wire
		NEW DELHI - For the shareholders of steelmaker Arcelor SA, it could turn out to be a choice between the devil and the deep blue sea - that is, Lakshmi Mittal or Alexei Mordashov, billionaires both vying to merge with the Luxembourg-based firm in what has become one of the biggest takeover battles in history.
		In a bid to allay shareholder apprehensions, Mordashov, who owns 90% of Severstal, has sweetened his merger terms by reducing his stake in a Severstal-Arcelor combination to 25%, from 32%, in exchange for scrapping a cash contribution of 1.25 billion euros to Arcelor.
		Mordashov further invited 120 key Arcelor shareholders to visit his rambling Soviet-era plant in Cherepovets to dispel their fear of the unknown.
	www.atimes.com /atimes/South_Asia/HF24Df04.html (1303 words)

	domain-B : Indian business : companies : Bidding war likely for Corus Steel?
		Alexei Mordashov, Severstal's majority owner, is still smarting under the Arcelor loss to Mittal Steel and would not miss an opportunity to bid for a large European rival like Corus.
		Mordashov, who currently owns 90 per cent of Severstal and is reportedly close to Russian president Putin, had last week announced plans for an IPO for his company in London.
		Mordashov had reportedly tried to rope in Abramovich for the failed merger attempt with Arcelor.
	domain-b.com /companies/companies_t/tata_steel/20061010_bidding.htm (951 words)

	Kremlin-Backed Russian Steps In to Disrupt Mittal Hostile Bid for Arcelor - NEWS - MOSNEWS.COM (Site not responding. Last check: 2007-10-12)
		Under the deal, Alexei Mordashov, Severstal’s controlling shareholder, would pay Arcelor 1.25 billion euros in cash and give it his stake in all of Severstal’s steel assets and Italian steelmaker Lucchini.
		Alexei Mordashov’s life has been tied to the steel plant in Cherepovets, the hard scrabble town in northwest Russia where he was born, AP wrote this week.
		Mordashov declined to confirm rumors that Putin was consulted about the deal, saying Severstal was a publicly listed company.
	www.mosnews.com /news/2006/05/27/mordashov.shtml (1174 words)

	Steel news Arcelors board meets to discuss Severstals revised merger offer (Site not responding. Last check: 2007-10-12)
		Mordashov said he would not increase “either actively or passively” his shareholding above 33 percent without making a tender offer.
		Severstal will also drop a euro1.25 billion ($1.6 billion) cash contribution and abandon plans for Mordashov to be hold two of the four seats on a strategic committee that would make key business decisions, saying he will vote his shares in line with normal shareholder practice.
		Mordashov said he also wants to end restrictions that forbid him from buying more Arcelor shares for four years and offloading the bulk of his shares for five years.
	www.chestertontribune.com /Business/steel_news_arcelors_board_meets.htm (631 words)

	Bloomberg.com: U.K.
		Mordashov declined to say how much he and the company planned to raise in the IPO.
		Mordashov built up his stake during state asset sales in the 1990s after the collapse of the Soviet Union.
		Mordashov promised to improve corporate governance at the company, which investors including Atria's Tauvy have criticized.
	www.bloomberg.com /apps/news?pid=20601102&sid=aY6GTkgo5V7I&refer=uk (695 words)

	The St. Petersburg Times - Business - Big Deals Go Better With a Personal Pitch
		When Mordashov’s bid was announced, it was billed as a done deal that would make him the most influential player in the world’s biggest steelmaker.
		Alhough it was clear the shareholders would have the final say, all evidence is that Mordashov laid low while continuing to send deputies to deal with queries.
		During a press junket to his steel plants in Cherepovets, Mordashov appeared for only the final 30 minutes of a news conference at the end of the one-day trip.
	www.times.spb.ru /index.php?action_id=2&story_id=18120 (461 words)

	Telegraph \| Money
		Alexei Mordashov, the Russian billionaire and owner of Severstal, the giant steel group, has written directly to shareholders in Arcelor, its European rival, asking them to back the takeover of his company rather than support a rival offer from Mittal Steel.
		Alexei Mordashov would take a 38 per cent stake in Arcelor in exchange for his shares in Severstal
		It is understood that the Arcelor board is likely to call the EGM after a shareholder vote scheduled for June 28 that will decide whether the steel group can complete its recommended deal with Severstal.
	www.telegraph.co.uk /money/main.jhtml?xml=/money/2006/06/11/cnarce11.xml (484 words)

	Arcelor Reaches Deal With Severstal, European Steel Giant Arcelor, Fending Off Mittal Bid, Says It Will Merge With ...
		Under the deal announced Friday, Severstal's controlling shareholder Alexei Mordashov will pay Arcelor 1.25 billion euros ($1.59 billion) in cash and give it his stake in all of Severstal's steel assets and Italian steelmaker Lucchini SpA, according to an Arcelor statement.
		Mordashov _ whose company's financial methods came into question in the days of emerging Russian capitalism in the 1990s _ said the new company would "have the best corporate governance, by world standards."
		Mordashov said the deal would help Severstal reduce delivery delays and improve the bottom line of both companies, without elaborating.
	www.cbsnews.com /stories/2006/05/26/ap/business/mainD8HRFRC81.shtml (1063 words)

	Severstal chief to make new offer to Arcelor: French parliamentarian
		"Alexei Mordashov said he was disappointed, but that he had not given up," said Leonce Deprez, secretary of a French parliamentary commission for economic affairs.
		Mordashov, the chairman and owner of 83 percent of Severstal, appeared at a closed doors hearing in front of the commission, which is examining the proposed merger of Arcelor and Mittal.
		Arcelor shareholders are to meet in Luxembourg on Friday at an extraordinary general meeting and are expected to vote against the plan to merge with Severstal in favour of the deal with Mittal.
	www.turkishpress.com /news.asp?id=130924 (381 words)

Try your search on: Qwika (all wikis)