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Arrium selling stake in Steel & Tube Holdings

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Arrium selling stake in Steel & Tube Holdings

| Business News | Wednesday October 10 2012 12:20

Australian mining and materials group Arrium Limited is selling its 50.3 percent stake in New Zealand's Steel & Tube Holdings Limited.

Arrium says the shares will be sold at a a fixed price of $2.05.

It expects they'll be bought by a broad range of institutional and retail investors.

Steel & Tube Chief Executive Officer, Dave Taylor says this is a positive development providing greater liquidity for the distributor of steel and related products company shares.

He says the company will continue its strong relationship with Arrium as it's a key supplier.

Photo: stock.xchng

 

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