June 17 (Reuters) - Essar Steel Algoma
* Entered asset purchase agreement for sale of substantially all of company’s assets to a consortium of bidders
* Company is serving a motion today with Ontario Superior Court of Justice seeking approval of APA.
* Consortium of bidders formed by KPS Capital Partners, LP and company’s prepetition term lenders
* Consortium bid includes cash consideration, a credit bid equivalent to term loan, and assumption of certain liabilities Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780; )