Germany-based steelmaker ThyssenKrupp has announced that it will purchase the Brazilian miner Vale's 26.87 percent of shares in its Brazilian steel mill Thyssenkrupp CSA and will thus become the sole owner of shares in CSA.
The transaction will not result in any financing requirements for Thyssenkrupp and will not have any influence on the balance sheet valuation of CSA. In connection with the acquisition, existing shareholder agreements and other operating contracts between Vale and CSA will be renegotiated or cancelled. The completion of this transaction is subject to approval by the Thyssenkrupp supervisory board and subject to fulfillment of conditions precedent and approvals, including by the Administrative Council for Economic Defense (CADE), an agency of the government of Brazil. The shares are being acquired for a symbolic purchase price of $1.