9,193.69 TL BIST 100 BIST 100
4.37 CNY CNY CNY
31.30 $ USD USD
€33.84 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
44.87 TL Interest Interest
82.24 $ Fossil Oil Fossil Oil
22.71 $ Silver Silver
3.84 $ Copper Copper
115.84 $ Iron Ore Iron Ore
392.00 $ Ship Dismantling Ship Dismantling
2,060.77 TL Gold (gr) Gold (gr)

POSCO Holdings to sell its stake in Brazil's CSP in March

POSCO Holdings' 20% stake in Companhia Siderurgica do Pecem (CSP) will be transferred to Dutch steelmaker ArcelorMittal Brazil.

POSCO Holdings to sell its stake in Brazil's CSP in March

In a business report published on March 9, POSCO Holdings announced the sale of its stake in CSP and stated: "We are trying to improve the efficiency of our assets by selling non-core assets that we have no management rights to."

Previously, 50% of CSP was owned by the Brazilian mining company Vale, 30% by Dongkuk Steel and 20% by POSCO Holdings. ArcelorMittal Brazil has agreed to buy CSP for about $2.2 billion.

ArcelorMittal Brazil has decided to buy Vale, Dongkuk Steel and POSCO Holdings shares for free, on the condition that ArcelorMittal Brazil collects CSP's debts. In addition, the three companies will pay another $102 million. Dongkuk Steel and Vale are also engaged in the sale of shares.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Kazakhstan scrap export ban puts Russian metallurgy at risk

Friday, March 1, 2024

Exports of Russian square billets decreased by 12% in 2023

Friday, March 1, 2024

Thailand's scrap imports begin to recover in 2024

Friday, March 1, 2024

JSW Steel ventures into green steel manufacturing with new subsidiary

Friday, March 1, 2024

US hot-dip galvanized sheet imports increased

Friday, March 1, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now