Chinese cement majors are bidding hard for Brazil’s CSN Cimentos in a sale that could top R$12bn ($2.4bn) as the steelmaker races to cut a heavy debt load.
Brazil · Economy
Key Facts
— What’s for sale. CSN, one of Brazil’s biggest steelmakers, is selling its cement arm, the country’s second-largest cement producer.
— The price. Market reports now put the sale above R$12bn ($2.4bn), higher than the R$10bn talked about earlier this year.
— Chinese push. Three of China’s largest cement companies are among the most aggressive bidders, alongside local rival Votorantim.
Venda da CSN Cimentos deve superar R$ 12 bi, com chinesas mais agressivas
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