UPDATE 1-Severstal, Arcelor Mittal part ways in auto sector


(Adds details, background) MOSCOW, May 25 (Reuters) - Severstal , Russia's largest steelmaker including foreign assets, agreed on Friday to buy out Arcelor Mittal's 25 percent share in a joint venture serving the Russian car market. Severstal said in a statement the two companies would pursue their own separate developments in the automotive sector after it had completed the purchase of the stake in Severgal, a steel galvanising line at its main plant in northwest Russia. Severstal, ...

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