05
Oct
01:00
Ternium ups the stakes in Usiminas squabble with NSSMC
Argentina’s Ternium has raised the stakes in the current dispute with co-investor Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) by raising its shareholding in Brazilian steelmaker Usiminas. Ternium has announced that it has agreed to buy Usiminas shares from Brazilian pension fund PREVI to the value of BRL616.7m ($248.6m).
Ternium says it will acquire 51.4 million Usiminas ordinary shares at BRL12 per share. This represents a premiu…
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Anonymous
Very good overview of the weekly steel market.
Anonymous