Restructuring of Scaw into three standalone entities at an advanced stage

South Africa’s State-owned Industrial Development Corporation (IDC) announced on Monday that the restructuring of its steel subsidiary Scaw Metals into three standalone entities was at an advanced stage, as were plans to secure strategic equity partners (SEPs) for each of the units. Speaking at the IDC’s results presentation in Polokwane, Limpopo, CEO Geoffrey Qhena indicated that the ‘end state’ for Scaw had been determined and that transactions were currently being finalised, which would ...