01
Jul
11:53
Cedar completes Stemcor acquisition
Guangzhou-based commodity conglomerate Cedar Holdings has completed its acquisition of UK-headquartered steel trader Stemcor. Stemcor will retain its name and autonomy.
The deal was agreed in January (see Kallanish passim). Although unconfirmed by either side, the deal is reportedly valued at $150 million and sees ownership transferred fully from US investor Apollo group.
Cedar, which has so far been largely focused on non-ferrous metals and chemicals, said the a…
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Anonymous
Very good overview of the weekly steel market.
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