Arrium’s New Zealand steel unit for sale

Oct 09, 2012 | 01:03 PM |

Tags  Arrium, Steel & Tube Holdings, Geoff Plummer, New Zealand steel unit, steel, Daisy Tseng

SINGAPORE — Australia’s Arrium Ltd. has hired an investment bank to sell its 50.3-percent stake in New Zealand-listed Steel & Tube Holdings Ltd.

The Lower Hutt, New Zealand-based company, which processes and distributes a range of steel and allied products in the construction, manufacturing and rural industries, will be sold to institutional and retail investors at a fixed price of New Zealand $2.05 ($1.70) per share, Arrium said Tuesday.....

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