Nippon Steel to sell its stake in Acerinox

The largest Japanese steelmaker Nippon Steel, the historical shareholder of Acerinox, will completely abandon its capital in Acerinox, one of the world's largest stainless steel producers.

Nippon Steel announced last week that it has accelerated the issuance of a package of 21.4 million shares of Acerinox, representing 7.9% of the capital owned by the Japanese steelmaker.

In this way, Acerinox will lose one of its historic shareholders who took the first step to initiate the divestment process a year ago.

Acerinox recorded its best six-month result since 2007. The steelmaker increased its profit to 203 million Euros between January and June of this year, compared to 2 million recorded in the previous year.