Brazilian steel producer, CSN, faces a $172 million fine determined by a federal court in Minas Gerais state for maintaining its stake in Usiminas.
In the 2010s, CSN began acquiring shares of Usiminas, now owning 13.6% of its capital. The competition authority, CADE, ordered CSN to reduce its stake to 5%, but no deadline was specified, allowing delays.
A 2024 deadline for the sale was set, but CSN did not comply. Now, CSN must either sell part of its Usiminas shares, pay the fine, or challenge the court's decision.