Ternium in Talk for Potential Buy of Usiminas Share

Nippon Steel’s Brazilian steel making equity method affiliate, Usiminas announced on Thursday the firm recognized South American major steel maker, Ternium is in talk with Usiminas’ major shareholders for potential purchase of Usiminas’ share when Ternium announced the fact and Usiminas’ major shareholders of Votorantim Industrial and VBC Energia of Camargo Group sent letter to Usiminas. Ternium announced the firm confirmed the talk with Usiminas’ controlling shareholders but has not yet made any final decision.

Nippon Steel said the firm recognizes Ternium is in talk with Usiminas’ controlling shareholders of Votorantim and Camargo on Usiminas’ share transaction but Nippon Steel doesn’t recognize the talk was concluded.

Ternium confirmed the firm is in talk with Usiminas’ control group members on the potential acquisition shares in Usiminas by Ternium or its affiliates. But Ternium didn’t made final decision and reach agreement.

Usiminas reported the letters from the shareholders to the market. The letters confirmed the talk with Ternium but the shareholders didn’t get binding offer from Ternium. Usiminas will report new information on the transaction to market.