ThyssenKrupp may keep its Brazilian steel mill - WSJ
FRANKFURT Aug 12 (Reuters) - German steelmaker ThyssenKrupp may end up not selling its loss-making Brazilian steel mill, the Wall Street Journal reported on Monday, citing people familiar with the negotiations.
Under a new plan, ThyssenKrupp would sell its processing plant in the U.S. state of Alabama to Brazil's Companhia Siderurgica Nacional (CSN) for $1.5 billion, the paper reported.
CSN would agree to purchase 3 million tonnes of steel a year from the Brazilian mill, which would remain under ThyssenKrupp's control.
Once a symbol of German industrial prowess, ThyssenKrupp has been trying for more than year to offload the mills in Brazil and Alabama, together known as Steel Americas.
ThyssenKrupp will publish quarterly results after market close on Tuesday.
A spokesman for CSN in Sao Paulo declined to comment. A spokesman for ThyssenKrupp Steel Americas could not be reached for comment.
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