CSN announces sale of division to Chinese company for R$ 12.7 billion
Graduated in journalism from Universidade Nove de Julho and specialized in digital journalism from Escola Superior de Propaganda e Marketing. With experience at Comunique-se (where he went from intern to editor-in-chief), SBT News, and the Canal Rural website. Currently, he is the assistant editor of the Revista Oeste website.
TL;DR
- CSN signed an agreement to sell CSN Cimentos to China's Huaxin Building Materials Group.
- The sale value is R$ 12.74 billion, subject to adjustments.
- The transaction requires approval from Brazil's CADE and ANEEL, and Chinese regulatory bodies.
- This sale is part of CSN's strategy to reduce debt and improve its capital structure.
- CSN's shares rose by 8.89% on the day of the announcement.