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Brazil's CSN sells nearly 50% shares in Usiminas

12 May 2021 15:16 reported by Emi Chuang

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Brazil's steel and iron ore producer Companhia Siderúrgica Nacional (CSN) said it has sold 56 million preferred shares of steelmaker Usiminas on May 7, nearly 50%, as well as reduced its holding of shares to 10.07%.

According to calculations, this sale cost 1.3 billion reais. CSN has promised no more selling of balanced Usiminas' shares within 45 days and will evaluate strategic alternatives for the allocation of proceeds from this sale.

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