Brazilian steelmaker CSN sells stake in Australian coal miner for $830 million

CSN or Companhia Siderurgica Nacional (NYSE: SID) struck a deal to sell its 19.9 percent stake in Australian coal miner Riversdale to mining giant Rio Tinto for $830 million (AUD$780 million), according to its securities filing. CSN, Brazil’s largest diversified steelmaking company, sold 47.29 million shares of Riversdale at a price of AUD16.50 per share. Earlier in the day, Rio Tinto said it had won control of 72 percent of Riversdale after CSN accepted the offer. Shares of CSN were trading higher by 1.54 percent to $15.85 Wednesday morning. Source: I Stock Analyst

About Hildete Vodopives

Hildete de Moraes Vodopives is founder of Brazil Global and of the Harvard Strategists Group. She is a fellow researcher of the Centre Roland Mousnier at the Sorbonne University and a member of the Brazilian Investment Analysts Association (APIMEC-Rio), where she served as Corporate Relations Director and later, on the board. Hildete advises companies and investment agencies in international business development.
This entry was posted in Business and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s