Brazilian
longs producer Gerdau has won a 50 percent-plus-one share stake in Siderperú,
Peru's largest steelmaker, in an auction held by Peruvian state investment agency ProInversion.
Gerdau will pay the equivalent of US$60.6 million in cash for the controlling interest in Siderperú. Gerdau will also take on Siderperú's US$102 million in debt. The stake represents 493,725,60 of the Peruvian steelmaker's shares.
Gerdau's final offer was 25 percent higher than the minimum bid price set by ProInversion. Only one other company, London based holding company Global Steel, had qualified for Wednesday's bidding process, ProInversion told press, without mentioning whether Global Steel had entered a bid.
Siderperú has the
production capacity of 450,000 tons per year.