Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) confirmed Monday it is looking for an asset sale. In conjunction with the news, the company said in a document filing at local stock exchange, Bolsa Mexicana de Valores (BMV), that Alonso Ancira Elizonzo was re-appointed as the company’s board president.
Ancira was given full powers to “continue negotiations with companies interested in the acquisition (of AHMSA assets), a joint venture or any transaction that would improve AHMSA’s financial profile,” the document filing said.
SteelOrbis has previously reported that Ternium could be a potential buyer.
Ancira was detained in Spain last year over corruption charges. His banking accounts were frozen by Mexican authorities, and more recently, the US Drug Enforcement Administration (DEA) said it was investigating Ancira over money laundering charges.