May 3, 2013 / 6:55 AM / in 5 years

ThyssenKrupp aims for quick deal on Steel Americas

DUESSELDORF, Germany, May 3 (Reuters) - German steel group ThyssenKrupp aims to reach a deal on the sale of its loss-making Steel Americas business in the near future, a company spokesman said on Friday.

The group is currently in “intensive negotiations”, he said. Talks include Brazilian mining group Vale - which owns a stake in the Brazilian steel plant that ThyssenKrupp seeks to divest - as well as with Brazil’s state-run development bank BNDES and Brazilian government agencies, he added.

Earlier this month, a source familiar with the subject told Reuters that Brazilian steelmaker CSN, has resubmitted a bid and that Vale and BNDES have been involved in the negotiations.

Sources have said in the past that CSN has offered $3.8 billion for ThyssenKrupp’s Steel Americas, which comprises a slab processing plant in the U.S. state of Alabama and a 73-percent stake in Brazilian slab-making mill CSA.

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