|
|
Article: NLMK not proceeding with John Maneely acquisition, $2 bln loan (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- November 17, 2008
CopyrightCOPYRIGHT 2008 Gale acknowledges Publisher's copyright in the text of the Publication and shall place users of that text on notice of that copyright interest. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NLMK not proceeding with John Maneely acquisition, $2 bln loan (Part 2)
MOSCOW. Nov 17 (Interfax) - Novolipetsk Steel (NLMK) (RTS: NLMK) said it had terminated an Agreement and Plan of Merger with DBO Holdings, Inc. for the acquisition of John Maneely Company (JMC), and the related $2 billion bridge loan facility it had entered into to finance in part the acquisition.
The litigation brought by DBO Holdings, Inc. relating to the acquisition continues, NLMK said in a media statement.
DBO said in a press release that it intended to "enforce its rights" in court. It said a lawsuit, filed on October 15 claiming that NLMK was trying to lower the cost ...