KPS Capital Partners walks away from Essar Steel Algoma bid: Reuters
Essar Steel Algoma Inc said U.S. private equity firm KPS Capital Partners had backed out of a consortium that made a bid for the Canadian steel maker, but that certain term lenders were still pursuing a bid, Reuters reported. A group that includes shareholders of Essar Global signed a letter of intent with a local unit of the United Steelworkers Union earlier this week to negotiate a deal to buy Algoma for about US$900 million.
14 July 2016•1 min read
