Sources say CSN wants US mill included in deal

By IVCPOST Staff Reporter

Aug 29, 2013 08:42 PM EDT

Brazilian steelmaker Companhia Siderúrgica Nacional SA (CSN) said that it might call off plans to acquire CSA mill in Rio de Janeiro. CSA mill is ThyssenKrupp's money-losing facility. The deal was said to be ended if the German steelmaker does not include its sister plant based in the US. This was according to a source that was familiar with the matter.

CSN is Brazil's second flat steel producer. The company had been pushing negotiations to buy ThyssenKrupp's Steel Americas. The latter included a processing plant in Alabama and a CSA slab mill in Rio. This was according to a person who declined to be identified as the matter was held private in nature.

German steelmaker ThyssenKrupp had struggled to sell 73% stake in CSA. The remainder stake in CSA is owned by Vale SA, a Brazilian iron ore miner.

The source added that the without the plant in Alabama, CSN would not be interested to continue the deal.

CSN and ThyssenKrupp's spokespersons declined to give statements.

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