Cerebrus, Renco Pump Cash Into Ailing RG Steel

Law360, New York (January 19, 2012, 3:21 PM EST) -- Private equity firms Cerberus Capital Management LP and The Renco Group Inc. have committed new capital to Renco affiliate RG Steel LLC, the nation’s fourth-largest flat-rolled steel producer, to help it gain its footing in an ailing market, the companies said Wednesday.

The two firms have pledged an undisclosed sum to the beleaguered Maryland-based steel producer, which has been forced to lay off workers and idle operations in the last year due to low market demand, the company said. It was not disclosed whether Cerberus would...
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