The Chinese front-runner for CSN's cement unit faces an obstacle from inside its own ownership, as big shareholder Holcim signals it will not back the bid.
Markets · Mergers
Key Facts
—The twist. The Chinese front-runner for CSN’s cement business faces resistance from inside its own ownership.
—The blocker. Switzerland’s Holcim, which owns about 42 percent of bidder Huaxin, has signalled it will not back the deal.
—The irony. Holcim sold these very Brazilian assets to CSN back in 2021 and is reluctant to see them bought again.
A Holcim detém cerca de 42% da Huaxin e vendeu os mesmos ativos brasileiros para a CSN em 2021
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Holcim veta participação da Huaxin na compra de ativos da CSN
Preço pode afastar potenciais compradores da CSN Cimentos, dizem fontes
Amrize spins off Holcim to tap US market potential
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Endividada, CSN inicia venda de ativos de infraestrutura; saiba quais
Holcim upgraded to Outperform from Neutral at BNP Paribas
