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30 Mar

Techint increases stake in Usiminas

The Techint Group (TT), comprising Tenaris, Ternium and Confab Industrial, has increased its stake in Brazil’s Usinas Siderúrgicas de Minas Gerais (Usiminas) to 9.74%. This comes after it entered into a share purchase agreement to acquire from Japanese co-investors Nippon Steel and Sumitomo Metal Corporation, Mitsubishi and MetalOne (NSC) 68.66 million ordinary shares of Usiminas at a price of BRL 10 ($1.94) per share. “The group would pay BRL…
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