Betaville

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

I picked up an interesting nugget on the Stemcor situation scurrying around in the undergrowth this afternoon.

For readers that don't recall, Stemcor - one of Britain's largest privately-owned companies - is in a tough situation following a financial restructuring.

And Reuters reported a few days ago that Apollo, the private equity/hedge fund founded by Leon Black, is pushing for ownership of Stemcor via a debt-for-equity swap. Here is a link to the Reuters piece:..