Stemcor May Change Ownership Again
The Chinese owner of Stemcor, the renowned British steel trader founded by Hans Oppenheimer, is considering a potential sale, marking another shift in ownership for the company.
Talks of a Fresh Change of Ownership Surround Stemcor
Recent discussions have emerged about the possibility of the company, now headquartered in Jersey, being acquired by a new owner, raising speculation about the future of the historic steel trading firm.
Stemcor’s Chinese Owner Explores Potential Sale
ShouYe Holdings, the Hong Kong-based owner of Stemcor since July last year, is reportedly exploring options for selling the company, presenting an opportunity for a new entity to take control.
Stemcor’s Financial History and Debt Restructuring
After facing financial challenges following the 2008 financial crisis, It underwent a significant debt restructuring and was divided into two separate entities, with Moorgate Industries focusing on assets in India.
Dame Margaret Hodge’s Connection to Stemcor
Dame Margaret Hodge, daughter of Stemcor’s founder, was linked to the winding-up of a Liechtenstein foundation that held the shares, but she has clarified that she paid all relevant taxes and does not hold any remaining interest in the company.
Uncertainty Surrounds Stemcor’s Future
With Stemcor potentially changing hands again, the future of the historic steel trading firm hangs in the balance, prompting speculation about the impact on its operations and industry landscape.