US EditionBrazil's CSN Plans Major Asset Sales to Cut Debt
8 Articles
8 Articles
Brazil's CSN plans major asset sales to cut debt
Brazilian steelmaker CSN said on Thursday it would kick off a major divestment plan involving significant assets, including its cement unit, as it aims to "definitively" address capital structure issues by reducing its debt.
The company claims that the purpose of the project is to equation the group's capital structure.
The CSN announced its intention to sell its cement company control and a minority participation in a subsidiary that will be created to meet its infrastructure operations. The plan is to raise between R$ 15 billion and R$ 18 billion, resources that would be used to reduce the group's dependence. Morgan Stanley should coordinate the sale of CSN cements, and Citi should remain with the mandate of the infrastructure business, people close to the CS…
The National Siderügica Company (CSN) announced, on Thursday, 15, a plan for the sale of strategic assets with a view to reducing the individualisation of the company to R$ 18 billion. In a communication sent to the Mobilial Values Commission (CVM), the company stated that it intends to place control of its cement division, in addition to a relevant participation in the CSN Infrastructure. The expectation is that the processes will be completed …
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