Corus Staal B.V to acquire 100% of Segal

Corus Staal B.V to acquire 100% 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 signed an agreement to acquire the remaining 50% stake in the company from MetalInvest investment fund. Corus will pay €25 million for the remaining 50% stake. Segal has annual hot dipped galvanizing sheet capacity of 500'000 tons per annum. The transaction is expected to be completed by the end of 2004 following the approval by Belgian Competition Authority.