Brazilian flats steelmaker Usiminas said on Thursday it has hired a bank to help it sell a stake at iron ore producer MUSA. Usiminas said it is evaluating selling either its entire 70 percent stake in the project or a smaller share.
Brazilian bank BTG Pactual is advising the steelmaker in the transaction. Usiminas said it has not yet reached any decision or deal.
Usiminas currently owns a 70 percent stake in MUSA, while Sumitomo owns the remaining 30 percent stake.