Carlyle Group is selling its majority stake in JMC Steel Group to the Zekelman family, which presently owns a minority stake. The financial details of the transaction were not disclosed by both the parties.
The global alternative asset manager will maintain a minority stake in JMC and participation on the board of directors. The transaction, which is pending for financing, is scheduled to be completed by March 31.
Click here for the release from Carlyle Group.