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‘Not a done deal yet’ – SSI still arranging financing for TCP bid, says spokesman

August 31, 2010 - 16:24 GMT Location: London

KEYWORDS: EU , Corus , SSI , financing

Sahaviriya Steel Industries (SSI) has not yet arranged financing for its $500 million bid for Corus’s Teesside Cast Products (TCP), a spokesman for the Thai group told MB.

Corus signed a Memorandum of Understanding (MoU) to sell TCP to SSI for approximately $500 million last week. (MB August 27). But SSI is still arranging financing for the planned acquisition, it said in a statement last week. “I think...

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