CSN sells cement division to Chinese Huaxin for R$ 12.7 billion
Operation should make Chinese group the second largest cement producer in Brazil; steelmaker seeks to anticipate resources to accelerate debt reduction...
TL;DR
- CSN signed an agreement to sell its cement division to Huaxin for R$12.7 billion.
- The operation will likely make Huaxin the second-largest cement manufacturer in Brazil.
- CSN aims to reduce its debt and strengthen its financial structure through this sale.
- CSN is negotiating with financial institutions to receive part of the sale's proceeds in advance.
- The acquisition signifies a strategic advancement for Huaxin in the Brazilian market.
- This deal highlights Chinese companies' interest in Brazilian industrial assets, particularly in infrastructure and basic materials.