Steelmaking group Ternium is reportedly looking to buy Brazilian slab producer Companhia Siderurgica do Atlantico (CSA), which is owned by ThyssenKrupp, according to media reports, which added that talks are in an advanced phase and could be concluded by the end of the year.
However, Ternium reportedly wants to pay significantly less than the market perceptions about the asset.
The sale of CSA is in line with ThyssenKrupp’s plans to get away from the steel business, a media report noted. Vale used to be a partner in CSA, but sold its 26.87 percent stake at a “symbolic price.”
CSA has struggled to obtain the environmental licenses it needed in order to operate. It received in late September the final approval from a Rio de Janeiro state authority to formally operate under a definite license.