TAMPA, FL, Aug. 30 /PRNewswire-FirstCall/ - Gerdau
Ameristeel Corporation (TSX: GNA, NYSE: GNA) and Gerdau S.A.
(Bovespa: GGBR, NYSE: GGB, Latibex: XGGB) announced the completion
today of the acquisition of Gerdau Ameristeel by way of a plan of
arrangement (the "Arrangement").
Pursuant to the Arrangement, Gerdau S.A. acquired all of the
issued and outstanding common shares of Gerdau Ameristeel not
already owned, directly or indirectly, by it for US$11.00 in cash per share. Any questions or
requests for assistance in surrendering certificates representing
shares of Gerdau Ameristeel in order to receive consideration for
such shares may be directed to the office of the depositary, CIBC
Mellon Trust Company, at 416-643-5500 or toll free at
1-800-387-0825 or by email at inquiries@cibcmellon.com.
Non-registered shareholders should contact their broker or other
intermediary for details.
De-listing of the common shares of Gerdau Ameristeel from the
Toronto Stock Exchange and the New York Stock Exchange is expected
to occur shortly. Concurrent with the delisting of its common
shares, Gerdau Ameristeel will apply to all applicable Canadian
securities regulatory authorities and to the Securities and
Exchange Commission in order to cease to be a reporting issuer, and
to withdraw its shares from registration, respectively.
About Gerdau S.A.
Gerdau S.A. is the leading producer of long steel in the
Americas and one of the world's largest suppliers of special long
steel. It has plants in 14 countries spanning the Americas,
Europe and Asia, with total installed capacity of more
than 25 million metric tons of steel. It is the largest recycler in
Latin America, transforming
millions of metric tons of scrap into steel every year. With over
140,000 shareholders, Gerdau S.A.'s publicly-held companies are
listed in the stock exchanges of Sao
Paulo (Bovespa: GGBR4, GGBR3, GOAU4, GOAU3 and AVIL3),
New York (NYSE: GNA, GGB),
Toronto (TSX: GNA), Madrid (Latibex: XGGB) and Lima (BVL: SIDERC1).
About Gerdau Ameristeel
Gerdau Ameristeel is the second largest mini-mill steel producer
in North America, with annual
manufacturing capacity of approximately 10 million metric tons of
mill finished steel products. Through its vertically integrated
network of mini-mills, scrap recycling facilities and downstream
operations, Gerdau Ameristeel serves customers throughout
the United States and Canada. The Company's products are generally
sold to steel service centers, steel fabricators, or directly to
original equipment manufacturers for use in a variety of
industries, including non-residential, infrastructure, commercial,
industrial and residential construction, metal building,
manufacturing, automotive, mining, cellular and electrical
transmission and equipment manufacturing. Gerdau Ameristeel's
majority shareholder is Gerdau S.A.
SOURCE Gerdau Ameristeel Corporation
Copyright . 30 PR Newswire