A China-based commodities group Cedar Holdings has completed the acquisition of London-based Stemcor, one of the world’s largest steel trading firms, Stemcor announced Tuesday, June 30.
Stemcor stated that it will retain autonomy and continue to provide service to its customers and suppliers under the same name. The company did not disclose the value of the acquisition.
The sale and purchase agreement was signed between the parties in January this year, as previously reported by SteelOrbis.