BlueScope buys OneSteel assets

Steel group to buy Arrium's sheet and coil processing and distribution businesses.

BlueScope Steel (BSL) has agreed to acquire Arrium's (ARI) OneSteel sheet and coil processing and distribution businesses in Sydney, Brisbane, Adelaide and Perth.

In a statement to the Australian Securities Exchange, BlueScope said it will pay inventory value at completion, which was $23.1 million at September 30.

BlueScope expects to incur net integration costs of $7 million.

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