Thyssenkrupp AG (TKAG.DE)
24 Feb 2017
SAO PAULO/ESSEN Thyssenkrupp AG has struck a deal to sell money-losing Brazilian steel mill CSA Cia Siderúrgica do Atlántico SA to Ternium SA for 1.26 billion euros ($1.3 billion), ending a foray into the Americas that led to years of massive losses.
* Vale, former CSA partner, fails to receive earn-out (Adds details on Vale earn-out clause in last two paragraphs, updates share price)
FRANKFURT, Feb 22 Thyssenkrupp expects the sale of CSA to Ternium to lead to a net loss as it takes a 900 million euro ($946.5 million) writedown on the Brazilian steel mill.
SAO PAULO Ternium SA has agreed to buy 100 percent of ThyssenKrupp AG's Brazilian mill CSA Cia Siderúrgica do Atlantico SA for 1.26 billion euros ($1.33 billion), ending five years of unsuccessful efforts by the German company to exit Latin America's largest economy.
SAO PAULO, Feb 21 Ternium SA has agreed to buy 100 percent of Thyssenkrupp's Brazilian mill CSA, the company said in a statement on Tuesday. Ternium will pay Thyssenkrupp 1.26 billion euros, and assume 0.3 billion euros in CSA's debt. (Reporting by Tatiana Bautzer; Editing by Sandra Maler)
* Company reached agreement with Ternium on sale of CSA steel plant in Brazil for eur 1.5 billion.
LONDON, Feb 15 Tata Steel's British workers voted on Wednesday to accept pension benefit cuts in return for safeguards on jobs and investment, although the Indian-owned firm's plan to spin off its entire pension scheme still faces regulatory hurdles.
Feb 13 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:
LONDON Investors expecting a deal this year in Tata Steel's talks to merge its European assets with Germany's Thyssenkrupp risk disappointment, given complications associated with the Indian-owned firm's British pension scheme.
MUMBAI/LONDON, Feb 9 Tata Steel UK has signed a 100 million pound ($126 million) deal to sell its speciality steel business to Liberty House Group, as the firm's Indian owner Tata Steel Ltd presses on with restructuring its European operations.