Corus Staal B.V completes acquisition of Segal

Corus Staal B.V completes acquisition of Segal

According to the statement released by Anglo-Dutch steel group Corus, its unit Corus Staal B.V, which currently owns 50% stake in Belgian hot dipped galvanizing line Segal, has recently completed the agreement regarding the takeover of the remaining 50% stake in the company. As previously reported by SteelOrbis, the takeover agreement for the remaining 50% stake was signed with MetalInvest investment fund on November 12, 2004. The deal was worth €25 million. Segal has annual hot dipped galvanizing sheet capacity of 500'000 tons per annum. The transaction has been completed following the approval by Belgian Competition Authority.