Brazilian steelmaker Companhia Siderurgica Nacional (CSN) is reportedly favoring a planned asset sale of its Lusosider mill in Portugal and Stahlwerk Thüringen (SWT) mill in Germany, according to a media report from Valor.
As previously reported by SteelOrbis, the company has already indicated it would sell its Portugal-based assets, as part of a plan to reduce debt. However, creditors, including Brazilian state-owned banks, such as Banco do Brasil, have further pressured the company to advance on the planned disinvestments.
CSN may disinvest BRL 4 billion in assets by the second half of the year. The figure includes the recent purchase of CSN LLC by Steel Dynamics for $400 million. Creditors expected CSN to sell its shares at flats producer Usiminas by June this year.
Banco do Brasil has the CSN shares in Usiminas as a guarantee and as part of a renegotiation of debt .