Opérations et transactions|20 juin 2007
Algoma Steel completes C$1.85 billion sale to Essar Global
Torys acted as counsel to Algoma Steel with a team that included Peter Jewett, Kevin Morris, John Emanoilidis and John Guccione (Canadian corporate and securities), John Unger (tax), Jim C. Tory and Andrew Gray (litigation), Andy Beck (U.S. corporate and securities), Jay Holsten (competition), Dennis Mahony (environmental) and Christina 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.