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Assets For Sale

Here’s who has been put on the sales block.

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Electrosteel Acquisition Wins Tribunal Approval

17 Apr 2018 - Indian officials have approved ore miner Vedanta Resources' offer to acquire Electrosteel Steels Ltd., becoming the first of 12 companies forced into insolvency by India’s central bank to reach this stage. 

Gerdau Finalizes Divestment of Texas Mill

03 Apr 2018 - Gerdau SA has completed the sale of its Beaumont, Texas, wire rod mill and two downstream facilities to an entity affiliated with Florida-based Wire Mesh Corp. 

Union Remains Hopeful for Deal to Save Hamilton Specialty Bar

29 Mar 2018 - Even as Canadian SBQ manufacturer Hamilton Specialty Bar (2007) Inc. faces liquidation, talks are continuing with a potential buyer who intends to continue operating the business, and the United Steelworkers union remains optimistic that a deal can be struck, reports Canadian news radio station AM900 CHML. 

Looking to Reduce Debt, CSN Eyes Asset Sales

28 Mar 2018 - Companhia Siderurgica Nacional chief executive Benjamin Steinbruch said the Brazilian steelmaker is planning to sell between US$600 and US$901 million worth of assets this year to pay down debt, reports the Reuters news service. 

Deadline to Save Canadian Bar Maker Passes Without an Offer

27 Mar 2018 - Canadian SBQ maker Hamilton Specialty Bar (2007) Inc. is to be liquidated after a would-be buyer failed to finalize an offer for the business. 

Essar Steel Creditors Call for Redo on Bidding

22 Mar 2018 - Essar Steel Ltd.’s creditors committee has rejected offers from both ArcelorMittal and an entity led by a Russian bank on grounds that both were ineligible to bid under Indian insolvency rules, according to reports.  

Deadline for Hamilton Specialty Bar Sale Draws Near

22 Mar 2018 - An investment firm is scrambling to finalize a bid for insolvent SBQ maker Hamilton Specialty Bar in Canada before a deadline Monday. 

Essar Steel Might Have a New Plant in Its Future

15 Mar 2018 - ArcelorMittal president Aditya Mittal said the company will consider building a new steel plant in India if it wins the bidding for Essar Steel, reports the Business Line newspaper. 

Bhushan Steel Creditors Select Offer for Company

08 Mar 2018 - Tata Steel Ltd.’s bid for a controlling stake in Indian cold-rolled producer Bhushan Steel has been selected as the prevailing offer, Tata said on Wednesday. 

ArcelorMittal Tag-Teams With Japanese Steelmaker on Essar Bid

02 Mar 2018 - ArcelorMittal is partnering with Nippon Steel & Sumitomo Metal Corp. (NSSMC) to acquire Essar Steel India Ltd., the steelmaker said on Friday.

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