Executive claims AHMSA sale agreement with Villacero remains active

Thursday, 09 September 2021 19:44:43 (GMT+3)   |   Sao Paulo

Julio Villarreal, who leads a group of investors at Alianza Minerometalúrgica Internacional, said a sale agreement with Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) remains active, despite claims that AHMSA revoked the deal.

Media reports said Villarreal insisted that Alianza and AHMA signed a sale agreement on April 14, 2021, and that such agreement remains valid. As reported by SteelOrbis, AHMSA said recently it revoked the sale agreement, in which Alianza would buy a 55 percent stake at Grupo Acerero del Norte (GAN), the holding company that controls Mexican steelmaker Altos Hornos de Mexico.

At the time, AHMSA said it revoked the deal due to Alianza’s non-compliance with contract clauses. AHMSA notified Alianza of its decision on August 17. Villarreal said that Alianza has complied and will continue to comply with the contract terms. He said he also expects AHMSA to meet its other commitments, including a deal with the Mexican government to settle a corruption case.

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