A Stemcor snippet - mystery US trade buyer swoops on steel trader - part 2

Some of my lending sources have got back in touch regarding the Stemcor story I wrote earlier this week.

Word is this "mystery US trade buyer" (see my previous post) has offered more for Stemcor's UK steel trading operations than what Apollo, the US vulture fund, is proposing as part of a debt-for-equity swap.

Don't, though, get too excited. Apparently, the value breaks in the company's debt, which is estimated to be more than $1.3 billion...

Register

Register for free to see rest of this article and all public articles from Betaville

Login / Register
Date: Friday, 24 April 2015, 2:27 am

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

Login to join the conversation