Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is expected to announce an asset sale in the coming days, the company’s CEO said this week while talking to analysts during a Q2 conference call.
“We will be announcing an asset sale in the next ten days,” Benjamin Steinbruch said.
In addition to the expected asset sale in the next 10 days, CSN is expected to also announce another deal, which should include parts of one of its core assets.
“We need liquidity and a better capital structure. We’re working on different fronts … including [selling] parts of one of our core assets,” the CEO added.
Citing sources close to the company, Reuters reported on Tuesday that CSN should announce the sale of a tinplate producing unit.
It’s not clear, however, if the deal is the same one, which CSN said it will announce in 10 days.
Reuters noted that the sale of Metalic Nordeste SA is expected to be closed at about BRL 100 million. The buyer is a Poland-based can producer.