Brazil’s CSN continues to increase stake in Usiminas

Brazilian steelmaker Companhia Siderurgica Nacional SA (CSN) has further raised its stake in rival Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA (Usiminas).
 
According to the company statement, CSN has increased its holdings in Usiminas' preferred stock to 15.15 percent and has raised its stake to 11.29 percent in Usiminas' common stock.
 
CSN has been building up its stake in Usiminas over several months. By the end of July, it had 10.84 percent of voting stock and 10.2 percent of preferred shares.