CSN: Brazilian Steelmaker Sells CSN LLC To Steel Dynamics

(RTTNews) - The Brazilian steelmaker Companhia Siderurgica Nacional (CSN) will sell Companhia Siderurgica Nacional LLC, a subsidiary in the United States, to Steel Dynamics for US$ 400 million. CSN LLC activities include stripping, cold rolling and galvanizing of flat steel.

The transaction is part of CSN's divestiture and deleverage plan. CSN will maintain its commercial import and distribution activities in the U.S. market, through another subsidiary, to be set up for this purpose.

The transaction should conclude within 90 days and is subject to the fulfillment of certain precedent conditions, including the authorization of United States regulating bodies (Federal Trade Commission and Department of Justice).