Stelco Announces Closing of Buyback
August 13 2021 - 5:31PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
HAMILTON, ON, Aug. 13, 2021 /CNW/ - Stelco Holdings Inc.
("Stelco" or the "Company") (TSX: STLC)
announced today that the previously
announced repurchase of 11,398,024 common shares in the capital of
the Company (the "Purchased Shares") from LG Bedrock
Holdings LP at a price of $34.93 per
Purchased Share for gross proceeds to LG Bedrock Holdings LP of
approximately $398 million has closed
and the Purchased Shares have been cancelled.
About Stelco
Stelco is a low cost, integrated and independent steelmaker with
one of the newest and most technologically advanced integrated
steelmaking facilities in North America. Stelco produces
flat-rolled value-added steels, including premium-quality coated,
cold-rolled and hot-rolled steel products. With first-rate gauge,
crown, and shape control, as well as reliable uniformity of
mechanical properties, our steel products are supplied to customers
in the construction, automotive and energy industries
across Canada and the United States as well as
to a variety of steel services centres, which are regional
distributors of steel products.
SOURCE Stelco
Copyright 2021 Canada NewsWire
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