BRIEF-Essar Steel Algoma says consortium agreement terminated term lenders intend to proceed independently

Thu Jul 14, 2016 5:54pm EDT
 
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July 14 (Reuters) - Essar Steel Algoma Inc

* Consortium agreement terminated; term lenders intend to proceed independently

* Received notice from term lenders that consortium agreement between kps capital partners lp and certain term lenders has been terminated

* Term lenders have indicated they remain committed to going-concern outcome for algoma and all of its stakeholders

* Seeking an adjournment of motion for approval of asset purchase agreement Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780; )