Brief: Steel Connect Announces Disposition Of IWCO

Steel Connect

25/02/2022 13:21

Feb 25 (Reuters) - Steel Connect Inc  STCN.O :
    * STEEL CONNECT ANNOUNCES DISPOSITION OF IWCO
    * STEEL CONNECT INC - FULL DISPOSITION OF IWCO DIRECT
HOLDINGS TO
AN INVESTOR GROUP LED BY AFFILIATES OF CERBERUS CAPITAL
MANAGEMENT, L.P.
    * STEEL CONNECT INC - WAS UNABLE TO IDENTIFY ALTERNATIVES TO
REFINANCE IWCO'S INDEBTEDNESS
    * STEEL CONNECT INC - DID NOT RECEIVE ANY CASH CONSIDERATION
FROM
CERBERUS-LED INVESTOR GROUP IN EXCHANGE FOR DISPOSITION OF IWCO
    * STEEL CONNECT INC - WILL HAVE NO NET DEBT FOLLOWING
DISPOSITION
OF IWCO
    * STEEL CONNECT INC -  MODUSLINK CORPORATION IS UNAFFECTED
BY
DISPOSITION OF IWCO

Source text for Eikon:  ID:nBw5Xvc5Ga 
Further company coverage:  STCN.O 

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