Kyoei Steel has announced it will acquire the steel business (mini-mill) of Moly-Corp AltaSteel Ltd. (MC AltaSteel) from US-based private equity fund, American Industrial Partners. With steel demand expected to decline in Japan, Kyoei Steel looked to secure its overseas steel business as part of its growth strategy, and so far has conducted business in the US and Vietnam. AltaSteel will work alongside Vinton Steel, which Kyoei Steel acquired in 2016 (which DC Advisory Japan also advised on), to expand their business further. DC Advisory Japan acted as the buy-side financial advisor for Kyoei Steel.

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