Huaxin Cement to buy CSN Cimentos Brasil for $1.642 billion
Briefing by News4U · First published
Sina Finance reported that Huaxin Cement announced on November 8 it will acquire 99.99% of CSN Cimentos Brasil from Companhia Siderúrgica Nacional for an estimated 9.0337 billion Brazilian reais (about $1.642 billion), subject to adjustments based on net debt and working capital at closing. The target is Brazil’s second-largest cement producer with 17 million tons annual capacity and 2.2 billion tons of limestone reserves. The deal does not constitute a related-party transaction or major asset restructuring under Chinese rules. [1]
Sources
- A股建材巨头，抛百亿级并购！
Sina Finance · · Full text