off-the-wire

Brazil’s CSN to sell up to 11% of mining unit to Japan’s Itochu

Kitco Media
By Reuters
Published:
Updated:
Reuters
Brazil’s CSN to sell up to 11% of mining unit to Japan’s Itochu teaser image

Brazilian steelmaker CSN said on Wednesday that it has reached a non-binding agreement to sell a stake of up to 11% in its mining unit CSN Mineracao to Japan’s Itochu Corp.

The company said in a securities filing that its board of directors has approved Itochu’s non-binding offer, but that the conclusion of a potential transaction still depends on additional corporate and antitrust green light.

(By Alberto Alerigi Jr.; Editing by Gabriel Araujo)

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