Brazilian anti-trust authority Cade approved this week, with no restrictions, the acquisition of Axis by local steelmaker Companhia Siderurgica Nacional (CSN) and Banco Fibra, according to a document filing, as previously anticipated by SteelOrbis.
CSN was allowed to buy Axis’ Valença mill, located in the city of same name in the state of Rio de Janeiro, which processes and distributes carbon flat steel products.
The deal worth BRL 36.2 million allows CSN and Banco Fibra to take over Axis’ Valença mill, as well as its assets, including real estate and equipment.
CSN and Banco Fibra are creditors at Axis, which is under bankruptcy protection.