Court OKs Stelco’s restructuring deal with Bedrock Industries
Stelco Inc, formerly U. S. Steel Canada Inc, announced that the Ontario Superior Court of Justice has sanctioned its restructuring arrangement and transaction with Bedrock Industries Group, a U.S. private equity firm. The deal is expected to close this month, resulting in the Canadian steel producer's emergence from creditor protection. Stelco agreed to restructure with Bedrock in 2016, shortly after United States Steel Corp (NYSE: X) agreed to transfer ownership to the investor. Bedrock previously said it will continue operating Stelco’s plants in Hamilton and Nanticoke, Ontario.
9 June 2017•3 mins read
