Brazil's CSN in talks to sell additional stake in mining unit to Itochu, Valor reports
Yesterday 21:41
Brazil's CSN in talks to sell additional stake in mining unit to Itochu, Valor reports SAO PAULO, Nov 13 (Reuters) - Brazilian steelmaker CSN CSNA3.SA has opened talks to sell an additional stake in its listed mining unit CSN Mineracao CMIN3.SA to Japan's Itochu Corp 8001.T, Brazilian newspaper Valor Economico reported on Friday.
Itochu already holds 10.9% of CSN Mineracao, a stake it bought from CSN in 2024 for 4.42 billion reais ($784 million) at the time
CSN has sold its cement unit and a German-based steel unit in recent weeks as part of a plan to cut debt leverage
($1 = 5.6405 reais)
(Reporting by Andre Romani in Sao Paulo; Editing by Kylie Madry)
((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))
Recent news on ITOCHU
See all newsBrazil's CSN in talks to sell additional stake in mining unit to Itochu, Valor reports
Notice Regarding The Execution Of A Capital And Business Alliance Agreement With Itochu Corporation
Striped socks keep FamilyMart a step ahead in Japan's convenience store wars
$2.50 striped socks keep FamilyMart a step ahead in Japan's 'conbini' wars
Brief: Itochu President We Are Concerned That U.S. Midterm Elections Could Affect Various Factors, Including Economic Trends, Interest Rates And Foreign Exchange Rates