UPDATE 1-Stelco says reaches new deal with Deutsche Bank

Newswire

(Adds details) TORONTO, Nov 24 (Reuters) - Insolvent Stelco Inc. said on Wednesday it has reached a new bailout plan with Deutsche Bank AG that does not depend on a contract with General Motors Corp. . Canada's No. 1 steelmaker, whose plan with Deutsche Bank was thrown into doubt when it lost the GM contract, said the new one provides for certain assurances for other large customer contracts and removes a management equity plan provision. "Hopefully other stakeholders and our ...

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