Investment bank Jefferies LLC is advising Mexican steelmaker Altos Hornos de Mexico (AHMSA) for its finance restructuring, the steelmaker said this week.
AHMSA said it hired the investment bank to advise it on either a capitalization or a “partnership” agreement within the company’s finance restructuring process, the Mexican steelmaker said.
AHMSA said it has maintained conversations with both potential strategic and non-strategic partners, however, no binding agreements have been set. AHMSA said it would keep investors aware in case any talks advance towards a deal.
In H2 last year, AHMSA annulled a sale agreement with a group of investors led by Villacero. As previously reported by SteelOrbis, Alianza Minerometalúrgica Internacional, a group of investors led by Villacero, 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 incompliance of contract clauses.