Russian Steel Maker To Acquire John Maneely
September 10, 2008
Novolipetsk Steel, the leading Russian steel producer, has signed a definitive agreement to acquire the largest U.S. steel pipe and tube manufacturer, John Maneely Co. (JMC), from a shareholder group that includes global private equity firm The Carlyle Group and the Zekelman family for $3.53 billion, on a debt-free, cash-free basis. The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2008. Read the full story of the JMC acquisition here.