By Paula Arend Laier
(Reuters) – CSN announced this Wednesday that its subsidiary CSN Cimentos signed a contract for the acquisition of Elizabeth Cimentos and Elizabeth Mineração, which operates in the Northeast region, especially in Paraíba and Pernambuco.
The deal was valued at 1.08 billion reais and involves cash payments, capital injection and debt assumption.
The closing of the transaction, according to CSN, is subject to the usual conditions precedent in transactions of this nature, including approval by the competition authorities.
The acquisition adds a production capacity for CSN Cimentos of 1.3 million tons per year. With the closing of the operation, it will have a total capacity of 6 million tons per year and an increasingly broader presence in the national territory as a relevant and low-cost producer.
“Relevant operational, logistical, management and commercial synergies are expected, with room for evolution of the product mix and expansion of the customer base”, stated CSN in a material fact to the Brazilian Securities Commission (CVM).
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