Brazil’s anti-trust authority, Cade, has rejected this week Companhia Siderurgica Nacional’s (CSN) appeal over the acquisition of local slab producer Companhia Siderurgica do Atlantico (CSA) by Ternium. Ternium completed the acquisition this week.
Cade, which had already approved the deal with no restrictions earlier this year, said the transaction does not raise any competition issues, as it didn’t find any “incentives” to unfair trade.
Cade said CSA’s slab production would not be that representative for the Brazilian slab market.
“Other competing domestic companies would have capacity to absorb any potential demand diversion,” Cade said in a statement.