FRANKFURT, July 26 German steelmaker
ThyssenKrupp is trying to salvage a deal to sell its
loss-making Steel Americas division to Brazil's Companhia
Siderurgica Nacional (CSN) after talks hit a snag over the
price, the Wall Street Journal reported online on Friday.
Citing people familiar with matter, the paper reported that
ThyssenKrupp wants CSN to raise its roughly $1.5
billion bid for a steel mill in Alabama, since ArcelorMittal
and Nippon Steel had offered $2 billion.
If CSN doesn't get the Alabama plant it could jeopardise an
agreement in principle reached earlier this month regarding the
sale of ThyssenKrupp's Brazilian semi-finished slab mill CSA,
the Journal reported.
According to the paper, ThyssenKrupp has agreed to lower its
stake in CSA to 33 percent or less, while CSN acquires an
interest of 33 percent or more. Brazilian iron ore miner Vale
would at least retain its current 27 percent holding.
A spokesman for ThyssenKrupp, which invested 12 billion
euros ($15.88 billion) to build the two steel plants, said the
company was still in intensive talks over the disposals with a
leading bidder and aimed to reach a deal promptly.