Ontario strikes deal with Bedrock to restructure U.S. Steel Canada: Reuters
The province of Ontario said that it has signed an agreement with U.S. private equity firm Bedrock Industries LP to restructure U.S. Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court, Reuters reported. Financial terms were not released. Under the agreement, Bedrock will purchase and continue operating U.S. Steel Canada's plants in Hamilton and Nanticoke, one source said. The company, which has the capacity to produce 2.6 million tons of steel annually, has been in creditor protection since September 2014.
21 September 2016•2 mins read
