Steel Prices |  Historical Steel Prices  |  Latest Steel News  |  Steel Companies
Member Login Turkish Italian China
Forgot Password  |   Credit Card Payment
Free E-bulletin Membership



Brazilian steelmaker sells 30 percent stake to Japanese conglomorate


Tags: iron ore , raw mat , Brazil , Japan , Far East , South America , M&A | similar articles »

Brazilian steelmaker Mineracao Usiminas SA Wednesday announced the sale of a 30 percent stake in the company to Tokyo-based Sumitomo Corp., a Japanese conglomerate with global businesses spanning several industries such as mining, metal products, and transportation.  The acquisition will be made through the subscription of new shares, for a total price of up to US$1.93 billion.

Usiminas owns iron ore mines in the southeastern Brazilian state of Minas Gerais and the Itaguai port project in neighboring Rio de Janeiro state.

Additionally, the deal includes a 20 percent voting stake in MRS Logistics, a rail operator in Southeastern Brazil. Vale SA and CSN also fellow stakeholders in the company.


Back All Articles


Most Recent Related Articles
Frequently Asked Questions
Member Conduct Rules
Privacy & Security
About us
Site Map
Contact us
News Partners
Advertising
Reports & Publications
Consultancy
Prime
 Facebook Wall 

 SteelOrbis Tweets 

 SteelOrbis RSS Feeds

 SteelOrbis Mobile
SSL     Copyright © SteelOrbis Electronic Marketplace Inc.
    All Rights Reserved