Alianza Minerometalúrgica Internacional will buy a 55 percent stake at Grupo Acerero del Norte (GAN), the holding company that controls Mexican steelmaker Altos Hornos de Mexico, AHMSA said.
The announcement comes weeks after the Mexican steelmaker said its board of directors allowed the company to continue negotiations with Grupo Villacero for an acquisition or merger, the nature of which not disclosed at the time.
AHMSA said the acquisition of a 55 percent stake at GAN, which owns AHMSA, is still subject to regulatory approval.
A media report by El Financiero noted Alianza Minerometalúrgica is made up of a group of financing executives led by Grupo Villacero.