Lionsteel South Africa Acquires Mozambique Steel Pipe Manufacturing Mill From Capital Africa Steel (Cas)

LionSteel South Africa has, after extensive negotiations with Capital Africa Steel, acquired the steel pipe manufacturing mill Capital Star Steel SA, located in Matola, Mozambique. The acquisition worth in excess of R500 million, involved a comprehensive debt restructuring with a syndication of four Mozambique banks, enabling CAS, the WBHO/Brait subsidiary, to sell 100% of its wholly owned Mozambican business to LionSteel SA.   Said Edwin Hewitt, CEO of CAS " After an extensive global bid ...