Peruvian distributor Tradi SA has rejected a purchase offer from local longs steelmaker Aceros Arequipa, the steelmaker said.
As previously reported by SteelOrbis, Aceros Arequipa made different offers to buy Tradi SA. The first proposal was to buy a 77.9 percent stake at the company, which Tradi SA rejected. In Aceros Arequipa’s latest purchase proposal, the company offered to buy 51.1 percent of Tradi’s total capital.
After the rejection of the second offer, Aceros Arequipa said it sent a letter to Tradi stating it is no longer interested in negotiating a purchase with the company.