Germany-based steelmaker ThyssenKrupp has announced that it has completed the sale of its Brazilian steel plant CSA Siderúrgica do Atlântico (CSA) to Latin American steel producer Ternium with a consideration of €1.5 billion.
ThyssenKrupp stated that the transaction reduces its net financial debt significantly and contributes to the expected improvement in its gearing, the ratio of net debt to equity.
With the sale of CSA, ThyssenKrupp has now fully divested its Steel Americas division and achieved a further important milestone on its Strategic Way Forward, which the company has been implementing since May 2011 in order to position itself as a diversified industrial group.