JFE Steel to acquire stake in CVRD’s ferro-silicon unit
JFE Steel Corporation,
Japan's second- biggest steelmaker, announced that it would acquire Brazilian mining giant Companhia
Vale do Rio Doce's (CVRD) stake in a ferro-silicon supplier.
JFE Steel will acquire CVRD's 49 percent stake in Nova Era Silicon S/A, the JFE sources reported.
JFE and Mitsubishi Corp.,
Japan's biggest
trading company, each own 25.5 percent of the ferro-silicon supplier. Through this takeover, JFE's stake in Nova Era Silicon S/A will increase to 74.5 percent.