Cedar to acquire Stemcor from Apollo Global Management.

Cedar, privately-owned commodities business, agreed to acquire Stemcor, a global steel trading and distribution company, from Apollo Global Management, an alternative investment manager. Financial terms were not disclosed. “Cedar Holdings is dedicated to building a world-leading commodities group. Stemcor has a well-established global sales network, which will offer potential synergies with the existing domestic and international business of Cedar Holdings. At the same time, supported by Cedar Holdings, Stemcor will be able to develop new business opportunities. The transaction is a win-win result where complementary benefits will emerge,” Gang Han, Cedar Vice President, and Commodities Supply Chain Group President.