Ternium to Acquire Nippon and Mitsubishi Stakes in Usiminas Control Group for $315 Million
Reuters
Nov 05
Ternium to Acquire Nippon and Mitsubishi Stakes in Usiminas Control Group for $315 Million
Ternium S.A. disclosed that its subsidiary, Ternium Investments S.à r.l., has entered into a share purchase agreement to acquire the remaining shares held by Nippon Steel Corporation and Mitsubishi Corporation in the control group of Usinas Siderúrgicas de Minas Gerais S.A. - Usiminas. The transaction involves the purchase of 153.1 million ordinary shares at $2.06 per share, totaling approximately $315.2 million in cash. Upon completion, Ternium's participation in Usiminas' control group will increase from 51.5% to 83.1%. Together with its affiliate companies, Ternium will hold a 92.9% stake in the control group, while Previdência Usiminas will retain the remaining 7.1%. The move is aimed at strengthening Ternium's commitment to Usiminas and the Brazilian steel market.
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