Brazil's CSN says looking to bid for OAO Severstal U.S. assets

RIO DE JANEIRO, June 26 Thu Jun 26, 2014 9:45am EDT

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RIO DE JANEIRO, June 26 (Reuters) - Brazilian steelmaker Companhia Siderurgica Nacional said on Thursday it is participating in a bidding process to acquire U.S. assets of Russian steelmaker OAO Severstal.

CSN said it is studying the viability of the operations, hoping to make an indicative acquisition proposal.

Russia's Severstal said earlier this month the sale of its U.S. business would be an "interesting option" as the steelmaker looks to increase profitability and reduce its debt.

(Reporting by Stephen Eisenhammer; Editing by Jeffrey Benkoe)

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