Essar Steel Algoma agrees to sell assets to KPS Capital Partners: Reuters
Essar Steel Algoma Inc said it had agreed to sell its assets to a consortium formed by New York-based private equity firm KPS Capital Partners and its lenders, Reuters reported. The Canadian steel company, which had been purchased nearly a decade ago by Indian energy and resources conglomerate Essar Group, had put itself up for sale while operating under creditor protection. The company manufactures steel products and sells them to the automotive, light manufacturing, construction, shipbuilding and energy industries.
20 June 2016•1 min read
