Essar Steel Algoma Inc. reports it received several bids as of close of the first phase in the Sale and Investment Solicitation Process (SISP), on Friday, April 1, 2016. The Company has now advanced into Phase Two of the process; closing deadline to be determined.
Essar Steel Algoma Inc. filed for creditor protection under the Companies Creditors Arrangement Act on November 9, 2015. The Sale and Investment Solicitation Process was launched on February 11, 2016.