Local news media have reported that according to a regulatory statement from Brazilian steelmaker Companhia Siderurgica Nacional SA (CSN) last Friday, CSN has once again increased its stake in Usiminas, its flat rolled steelmaking rival.
CSN now owns 11.66 percent of Usiminas' common shares, compared to 11.29 percent in late August, and 20.14 percent of preferred shares, a nearly 5 percent jump from the 15.15 percent CSN owned in August.
CSN isn't the only Latin American steelmaker interested in a major stake in Usiminas. SteelOrbis previously reported last week that Ternium SA is in talks to acquire a 26 percent stake from current Usiminas shareholders Camargo Correa SA, and Grupo Votorantim.