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.Continue reading “Brazilian steelmaker CSN sells stake in Australian coal miner for $830 million”