Transactions and Cases

Algoma Steel completes C$1.85 billion sale to Essar Global

Torys is representing Algoma Steel with a team that included Peter Jewett, Kevin Morris, John Emanoilidis and John Guccione (Canadian corporate and securities); John Unger (tax); James C. Tory and Andrew Gray (litigation); Andy Beck (U.S. corporate and securities); Jay Holsten (competition); Dennis Mahony (environmental); and Chris Medland (pension and employment).

On June 20, 2007, Algoma Steel Inc. (TSX: AGA) completed its sale to Essar Global Ltd. (BOM: 500627) for C$1.85 billion (US$1.63 billion). Essar Global, based in Mumbai, is one of India's largest corporate houses, focused on steel, oil and gas, power, communications, shipping and logistics, and construction. Its Essar Steel division is India’s largest exporter of flat rolled products. Algoma Steel, based in Sault Ste. Marie, Ontario, is an integrated producer of sheet and plate products that are sold primarily in Canada and the United States.

Transaction Team

Peter E. S. Jewett Kevin M. Morris John Emanoilidis John Unger James C. Tory Andrew Gray Andrew J. Beck R. Jay Holsten Dennis E. Mahony

Related Areas and Groups

Competition and Antitrust India International Mergers and Acquisitions Mining and Metals

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