Kaiser Ventures Investors Seek Sale of Firm

Kaiser Ventures Inc. said its two largest shareholders--a pension fund for retired steel workers and the Pension Benefit Guaranty Corp.--are seeking a sale of part or all of the company. In a filing with the Securities and Exchange Commission, advisors for the two investors said they’ve agreed to share information and discuss various options to increase the value of their holdings, including selling their stock, assets or the entire company. The two groups control about 53% of Kaiser Ventures stock, which is worth about $82 million at current prices. Kaiser Ventures was formed out of the 1988 bankruptcy reorganization of Kaiser Steel Corp. It controls a varied collection of assets, including a 460-acre former steel mill site east of Los Angeles. Ontario-based Kaiser Ventures’ shares fell 13 cents to close at $14.63 on Nasdaq.