Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is seeking a $30-35 billion evaluation for its logistics and mining arm company Congonhas Minerios.
As previously reported by SteelOrbis, CBSteel, a company interested in acquiring the asset, is willing to buy a 20-25 percent stake at the asset, a media report said this week. Negotiations are said to be slowly progressing.
Both parties are discussing the deal, but it depends much on CSN’s capability to provide iron ore to CBSteel. If a deal is reached, the move is expected to help CSN diminish its debts.