U.S. Steel Dynamics to buy majority stake in United Steel for $134 mln

02/02/2019 12:27:00 PM (GMT)

U.S. steel producer Steel Dynamics Inc. has agreed to buy a majority of the equity interest of steel products distributor United Steel Supply LLC.

Steel Dynamics has agreed to buy 75 percent of the equity interests of United Steel for $134 million, comprised of cash consideration of $92 million and the assumption of $42 million in apportioned debt.

Furthermore, the company has an option to buy the remaining 25 percent equity interest of United Steel Supply in the future.

Steel Dynamics said that United Steel provides the company with an opportunity to extend its painted Galvalume value chain.

Steel Dynamics Inc.

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