Ternium To Boost Stake In Usiminas

(RTTNews) - Ternium S.A. (TX) said Thursday that it has entered into a definitive purchase agreement with Caixa de Previdência dos Funcionários do Banco do Brasil for the acquisition of 51.4 million ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A. for a total amount of BRL 616.7 million, or about US$248.6 million.

The acquisition does not trigger any tender offer requirements.

Following the acquisition of the additional shares, Ternium will own 136.1 million ordinary shares, and the T/T Group, comprising Ternium S.A., Siderar S.A.I.C. and Confab Industrial S.A., will own 191.1 million ordinary shares, representing 38% of Usiminas' ordinary shares. During the term of the Usiminas shareholders agreement, Ternium will be required to vote those shares in accordance with the decisions of the Usiminas control group.