* BNDES could pump $2 bln into deal, Valor says
* CSN, BNDES may create new company after deal
* Companies declined to comment on Valor report
SAO PAULO, Jan 29 Brazilian state development
bank BNDES could deploy up to 4 billion reais ($2
billion) to help bankroll the potential purchase of ThyssenKrupp
AG's Steel Americas unit by local group Cia
Siderúrgica Nacional SA, Valor Econômico reported on Tuesday,
citing people with direct knowledge of the situation.
It was not clear from the report whether BNDES would extend
a loan to CSN, as Cia Siderúrgica is known; pump capital into
the steelmaker, or help create a new company that would absorb
Thyssen's assets in Brazil and the United States. Press
officials for BNDES and CSN declined to comment on the report.
The government is likely to welcome the purchase, which
could be concluded by the end of March, as a way to keep
Thyssen's assets in Brazilian hands, Valor said. Thyssen
currently owns 73 percent of Cia Siderúrgica do Atlántico's
Steel Americas' local unit.
The situation is the latest example of a trend started under
former President Luiz Inacio Lula da Silva, who helped engineer
the creation of conglomerates made up mostly of local companies
in sectors deemed as strategic, such as food processing, mining,
oil and telecommunications.
President Dilma Rousseff, Lula's political protégé and his
successor, has reinforced that trend by granting Brazilian
companies generous tax cuts and access to lending through state
banks. The involvement of BNDES in the deal would include the
creation of a company that would absorb CSN's steel unit and
incorporate Thyssen's CSA mill as another asset, Valor noted.
BNDES's investment holding company, BNDESPar, could own a 30
percent stake in the new company, with CSN controlling at least
60 percent. Vale SA, which currently owns the
remaining 27 percent of CSA, could end up with a 10 percent
stake, according to the Valor article.
Citing a source with direct knowledge of the situation,
Reuters reported on Jan. 18 that BNDES was looking for
alternatives to help CSN fund the purchase of Steel Americas.
CSN is offering $3.8 billion for Thyssen's slab processing plant
in Alabama and its 73 percent stake in CSA.
Shares of ThyssenKrupp were up 1.9 percent, the top gainer
on Germany's Dax index of leading shares, as traders
pointed to the report.
ThyssenKrupp declined to comment.