Slater Steel's sale of Hamilton division approved by Court

Slater Steel’s sale of Hamilton division approved by Court

As previously reported by SteelOrbis, Canadian steel producer Slater Steel signed a letter of intent with Delaware Street Capital for the sale of assets of its division Hamilton Specialty Bar. Delaware Street Capital offered $15.4 million in cash for Hamilton. Moreover, it agreed to take on $24 million in pension and medical benefit obligations for retirees. However, the sale of the assets was subject to approval of Ontario Superior Court. According to industry news, the court has recently announced that it approves the transaction