Slater Steel Inc., a mini mill producer of specialty steel products, completed the sale of substantially all of the assets of Renown Steel, its processing and distribution division, on May 31, 2002. The purchaser, Samuel, Son & Co., Limited, is one of North America’s leading processors and distributors of metals and operates more than 40 facilities in Canada and in the U.S. Under the terms of the transaction, Slater Steel is expected to receive approximately $36 million and as much as $3 million in contingent compensation over a five-year period. Samuel will also assume approximately $2 million in Renown Steel debt.
Samuel was represented by Gowling Lafleur Henderson LLP, with a team comprised of Robert Hull and Rudy Morrone (corporate), Bruce Graham and Catherine Pawluch (competition) and Enzo Sallese (real estate).
Slater Steel was represented in-house by Paul Davis, senior vice-president, administration and human resources, and general counsel; and by Lang Michener with a team that included Howard Drabinsky and Daniel Rowntree (corporate), James Musgrove and Daniel Edmondstone (competition) and John Payne (real estate).
Samuel was represented by Gowling Lafleur Henderson LLP, with a team comprised of Robert Hull and Rudy Morrone (corporate), Bruce Graham and Catherine Pawluch (competition) and Enzo Sallese (real estate).
Slater Steel was represented in-house by Paul Davis, senior vice-president, administration and human resources, and general counsel; and by Lang Michener with a team that included Howard Drabinsky and Daniel Rowntree (corporate), James Musgrove and Daniel Edmondstone (competition) and John Payne (real estate).
