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NII Sells More of National Steel: National...

From Times Staff and Wire Reports

NII Sells More of National Steel: National Intergroup Inc. said NKK Corp. of Japan owns 70% of National Steel Corp. with the purchase of an additional 20% interest in the nation’s fifth-largest steelmaker. Meanwhile, National Intergroup’s battle with dissident shareholder Centaur Partners Group intensified with new proxy statements regarding $2 million in bonuses for NII executives and a Centaur proxy statement seeking stockholder votes to fill NII’s board. NII now owns 30% of National Steel after the $146.6-million cash purchase of stock by NKK subsidiary, NKK U.S.A Corp.


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