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Hanwa Completes U.S. Steel Group Acquisition and Subsidiary Capital Increase

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Hanwa (TYO:8078) has finalized the acquisition of a 50.1% membership interest in Associated Steel Group (ASG) through its North American unit, Hanwa American Corp., in a joint investment with Development Bank of Japan.

The transaction was closed after securing U.S. competition authority clearance on Aug. 31, converting ASG into a consolidated subsidiary, with DBJ holding the remaining 49.9% via a Japanese special purpose company.

Total investment stands at $226 million, subject to final adjustments, while Hanwa also completed a $235 million capital increase in Hanwa American on Aug. 27, raising its post-capital ownership to 100%.

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