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No binding bid for TK's Brazil slab mill: CSN

Keywords: Tags  CSN, ThyssenKrupp Steel Americas, steel, iron ore, CSA, David Salama, Bovespa, Juan Weik


SÃO PAULO — Brazilian steel and iron ore producer Cia. Siderúrgica Nacional SA (CSN) hasn’t made any binding bid for ThyssenKrupp Cia. Siderúrgica do Atlântico’s (CSA’s) slab plant in Rio de Janeiro state, a senior company executive said.

"So far, CSN has not made a binding offer for the assets of ThyssenKrupp (CSA)," investor relations executive officer David Salama told analysts during an April 1 conference call, emphasizing that CSN is "conservative in terms of acquisitions." He declined to comment further.

Responding to queries by São Paulo stock exchange Bovespa after the Wall Street Journal reported that CSN offered $3.8 billion for both ThyssenKrupp CSA and ThyssenKrupp’s rolling mill in Calvert, Ala., the company said at the end of January that it was committed to making "the market aware of any binding act which demands the publication of a material fact" ( amm.com, Jan. 22).

ThyssenKrupp said last May that it was considering "strategic options" for its Steel Americas operations in Brazil and the United States, including a partnership or the sale of such plants ( amm.com, May 15).

A version of this article was first published by AMM sister publication Steel First.


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