Private equity firm Carlyle Group [CYL.UL] agreed to sell its majority stake in steel pipe maker JMC Steel to a minority shareholder, the companies said on Friday, 15 months after a deal to sell the company to Russian steelmaker Novolipetsk Steel fell through. Carlyle is selling its majority stake in JMC to the Zekelman family, which currently owns a minority stake. Carlyle will retain a minority stake in JMC and JMC will put in place a new capital structure and debt facilities. JMC's Executive Chairman Barry Zekelman said in a statement that the new ownership would give JMC more flexibility to make strategic investments.
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