Pacific Steel sale to ‘stalking horse’ OK’d
Aug 05, 2014 | 01:43 PM
| Frank Haflich
LOS ANGELES A "stalking horse" bid for Pacific Steel Casting Co. has become the winningand onlybid as the West Coast foundrys sale has been approved nearly six months after it entered federal bankruptcy proceedings, a spokeswoman for the company confirmed.
The assets of Pacific Steel Casting will be sold to Speyside Fund LLC, run by New York-based private equity investor Speyside Equity LLC, for $11.3 million. Pacific Steel Casting filed for Chapter 11 bankruptcy protection from creditors March 10 (amm.com, March 12).....
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