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Client Work

Klöckner sells Canadian subsidiary Namasco to Samuel, Son & Co.

Fasken
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Overview

Client

Klöckner & Co

On July 8, 2008, Klöckner & Co concluded the sale of its Canadian subsidiary Namasco Ltd. to Samuel, Son & Co. Ltd. The sale had been approved by Canadian antitrust officials. Namasco Ltd. processes flat-rolled metal products for the North American automotive industry. The core business of the Klöckner & Co Group does not include activities of this nature with automotive related customers but rather the storage and distribution of steel and non-ferrous metals. Fasken Martineau advised Klöckner and Namasco in this sale with a team led by Scott Conover and that included, among others, Doug New and Mark Magro (competition and Investment Canada), Ron Nobrega (tax), Rick Johnston (pensions) and Alix Herber (employment).

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