Termium confirms “discussions” to acquire Usiminas stake

Friday, 18 November 2011 02:28:09 (GMT+3)   |  
       

Following media reports Wednesday that Ternium has offered to buy the 26 percent share of Usiminas from current stakeholders Camargo Correa and Grupo Votorantim, the Luxembourg-based steelmaker released a statement Thursday regarding its plans.

In a press release, Ternium said that it "confirms that it is currently engaged in discussions with the members of Usiminas' control group involving the potential acquisition by Ternium or its affiliates of a minority interest in that group." However, Ternium also indicated that it has not made a final decision on the potential transaction "and at this time there exists no binding offer or agreement in this respect."

Reports on Wednesday cited that Ternium has offered to pay 40 reais (US$22.6) per share for the 26 percent stake, reflecting a significant premium over the price of Usiminas' shares at the end of the trading day Thursday of 22.57 reais (US$12.77). 


Similar articles

Flat steel prices in local Taiwanese market - week 17, 2024

25 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 16, 2024

18 Apr | Flats and Slab

Turkish flats prices generally stabilize after holiday

16 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 15, 2024

11 Apr | Flats and Slab

Baosteel cuts local HRC prices by $14/mt for May

11 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 14, 2024

04 Apr | Flats and Slab

Romania's flats traders cut HRS prices, mill’s prices stable

04 Apr | Flats and Slab

Ussuri Capital to build low-carbon emissions flats plant in Romania

29 Mar | Steel News

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab