June 30, 2017 / 8:50 PM / 3 years ago

BRIEF-U.S. Steel and Bedrock Industries finalize restructuring

June 30 (Reuters) - United States Steel Corp:

* U. S. Steel and Bedrock Industries finalize restructuring and sale of U. S. Steel Canada

* United States Steel Corp - transaction was finalized following requisite court and other approvals

* United States Steel Corp - terms of plan and closing also included an agreement to provide mutual releases among key stakeholders

* United States Steel Corp - as part of transition in ownership, U. S. Steel will continue to provide certain transition services to USSC

* United States Steel Corp - entered an agreement to supply USSC with all of its requirements for iron ore pellets through January 31, 2022

* United States Steel - terms of plan and closing also included a release of all claims against U. S. Steel regarding environmental, pension, other liabilities

* United States Steel - in connection with closing, co received about $127 million in satisfaction of secured claims, including interest, unsecured claims

* United States Steel - finalized agreement with Bedrock Industries Group Llc for sale and transition of ownership of U. S. Steel Canada Inc to Bedrock Source text for Eikon: Further company coverage:

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