# IDC to sell controlling stake in Scaw's rolled products and wire rod businesses to BSP

The Industrial Development Corporation (IDC) has reached an agreement with the Barnes Southern Palace Consortium (BSP) to sell a controlling interest in Scaw Metals' rolled products and wire rod products businesses. BSP has applied for approval from South African competition authorities.

- Type: Acquisition
- Announced: 2017-08-24
- Where: South Africa
- Status: announced
- Products: rolled products, wire rod products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Industrial Development Corporation](https://endata.com/companies/3720.md)
- [Scaw Metals](https://endata.com/companies/17112.md) (target)
- [Barnes Southern Palace Consortium](https://endata.com/companies/26509.md) (acquirer)

## Sources

- [metalworkingnews.info](https://metalworkingnews.info/idc-starts-to-sell-off-struggling-scaw-units/), 2017-08-24: "BSP will acquire a controlling interest in Scaw’s Rolled Products and Wire Rod Products business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.