Brazilian steelmaker Companhia Siderurgica Nacional (CSN) announced it has closed the sale of its tinmaker Metalic to Polish can maker Can-Pack for BRL 372.5 million ($107 million) in cash.
The amount is slightly higher than the initial $98 million CSN said it would receive from the Polish can maker.
The Brazilian steelmaker said the amount paid was still subject to a post-close adjustment that was foreseen in the contract of purchase and sale of shares it inked with Can-Pack. Brazilian banks Bradesco BBI and BB Banco de Investimento helped CSN with the deal.
Can-Pack is one of the world’s top can makers. The deal is part of CSN’s strategy to diminish its debt.