# Algoma Steel completes purchase of Essar Steel Algoma assets

Algoma Steel Inc. announced it has completed the purchase of substantially all assets of Essar Steel Algoma Inc., emerging from CCAA protection. The company also plans a CDN $300 million investment to expand capacity and grade capability at its Sault Ste. Marie steelworks.

- Type: Acquisition
- Announced: 2018-11-30
- Where: Sault Ste. Marie, Ontario, Canada
- Value: $228.0M (300.0M CAD)
- Status: completed
- Products: hot and cold rolled steel sheet and plate
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Algoma Steel Inc.](https://endata.com/companies/15428.md) (acquirer)
- [Essar Steel Algoma](https://endata.com/companies/35817.md) (target)

## Sources

- [algoma.com](https://www.algoma.com/news/algoma-steel-inc-emerges/), 2018-11-30: "Algoma Steel Inc. announced today it has successfully completed the purchase of substantially all of the assets of Essar Steel Algoma Inc."
- [newswire.ca](https://www.newswire.ca/news-releases/algoma-steel-inc-emerges-701659851.html), 2018-11-30: "Algoma Steel Inc. announced today it has successfully completed the purchase of substantially all of the assets of Essar Steel Algoma Inc."
- [algoma.com](https://www.algoma.com/news/allow-us-reintroduce-algoma-steel-inc/), 2018-11-30: "Algoma Steel Inc. purchased substantially all of the assets of Essar Steel Algoma Inc."
- [lexpert.ca](https://www.lexpert.ca/big-deals/essar-steel-algoma-inc-concludes-restructuring-under-the-ccaa-and-sale-of-substantially-all-of-its-assets-to-algoma-steel-inc/352490), 2019-03-25: "On November 30, 2018, Essar Steel Algoma Inc. (“ESAI”) concluded its comprehensive restructuring under the Companies’ Creditors Arrangement Act by way of the sale of substantially all of its assets to Algoma Steel Inc."

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