April 19, 2013 / 10:16 PM / in 5 years

Brazil's CSN rebids for ThyssenKrupp steel assets - source

RIO DE JANEIRO (Reuters) - Brazilian steelmaker CSN, or Cia Siderúrgica Nacional SA (CSNA3.SA), has resubmitted a bid for assets belonging to Germany’s ThyssenKrupp AG (TKAG.DE), a source familiar with the subject told Reuters on Friday.

In recent months, CSN offered $3.8 billion for ThyssenKrupp’s Steel Americas, which is comprised of a slab processing plant in the U.S. state of Alabama and a 73-percent stake in Brazilian slab-making mill CSA.

Mining group Vale SA VALE5.SA holds the remaining 27 percent stake in CSA.

    Vale and Brazil’s state-run development bank BNDES have been involved in the negotiations, the source said on condition of anonymity, without giving further details of the latest offer.

    CSN declined to comment on the subject. A spokesman for ThyssenKrupp could not immediately be reached for comment.

    CSN has been looking for ways to make BNDES a partner in the acquisition, Reuters has reported recently. There has been speculation for months that Brazil’s government would support a deal.

    Reporting by Sabrina Lorenzi, additional reporting by Brad Haynes in Sao Paulo; editing by Andre Grenon, G Crosse

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