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Brazil: Ternium wins antitrust nod for ThyseenKrupp steel unit

By  |  August 2, 2017

The antitrust agency Cade approved the acquisition by Ternium of the steel unit of Thyssenkrupp in Brazil, CSA Siderurgica do Atlántico, which will allow the German group to end an investment in the Americas, that generated huge losses.

In a ruling published in Brazil’s Economia Hoy on Tuesday, Cade allowed without restrictions Ternium’s purchase of Thyssenkrupp’s 100% stake in CSA. The deal was valued at €1.5 billion (US$1.8 billion) when it was announced on February 22.

On June 9, Cade agreed to analyze a request from Brazilian steelmaker Cia Siderúrgica Nacional SA to gauge whether the Ternium-CSA deal could hamper competition in the local flat steel market.

Late last year, Thyssenkrupp took full control of CSA after Vale, the world’s number 1 iron ore producer, exited the company for a token sum.

Full Content: Economía Hoy

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