Industry News

Brazil's CSN to sell up to 11% stake in mining subsidiary to Japan's Itochu

Views : 19
Update time : 2024-10-21 17:19:55
Brazilian steelmaker CSN agreed to sell up to 11% of its mining subsidiary, CSN Mineração, to Japan's Itochu, according to a securities filing. The deal values the shares at 7.50 reais each, a 26% premium over CSN Mineração's previous closing price of 5.95 reais per share.

The price details were revealed later. CSN noted that payment terms and other conditions are still under negotiation. The transaction requires further corporate and antitrust approvals to proceed.
Related News
Read More >>
Rio Tinto completes acquisition of Sumitomo's 20.64% stake in New Zealand's aluminium smelter Rio Tinto completes acquisition of Sumitomo's 20.64% stake in New Zealand's aluminium smelter
Nov .01.2024
Rio Tinto completes acquisition of Sumitomo's 20.64% stake in New Zealand's aluminium smelter
BAB Aluminium's decades of innovation in aluminium seating solutions BAB Aluminium's decades of innovation in aluminium seating solutions
Nov .01.2024
BAB Aluminium's decades of innovation in aluminium seating solutions
Tariffs on aluminium extrusions dismissed: US ITC's decision brings reimbursement for importers Tariffs on aluminium extrusions dismissed: US ITC's decision brings reimbursement for importers
Nov .01.2024
Tariffs on aluminium extrusions dismissed: US ITC's decision brings reimbursement for importers
Rio Tinto suspends operations at Simandou iron ore project due to fatal incident Rio Tinto suspends operations at Simandou iron ore project due to fatal incident
Nov .01.2024
Rio Tinto suspends operations at Simandou iron ore project due to fatal incident