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Gerdau to sell Chilean unit to Matco, I&I for $154 mln
October 4, 2017 / 8:32 PM / 2 months ago

Gerdau to sell Chilean unit to Matco, I&I for $154 mln

SAO PAULO, Oct 4 (Reuters) - Gerdau SA has agreed to sell a Chilean long steel unit to local players Matco Armacero SA and Ingeniería & Inversiones SA for about $154 million, in a move aimed at helping the largest steelmaker in the Americas cut debt and boost profitability.

In a Wednesday securities filing, Gerdau said the unit has installed capacity of 520,000 tonnes and the deal is pending on antitrust approval in Chile. (Reporting by Guillermo Parra-Bernal; editing by Diane Craft)

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