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Brazil's CSN sells can maker Metalic for $98 million to Polands Can-Pack

  • Region:

    Brazil

  • Sector:

    Materials

  • Deal Size:

  • Buy Side Company:

    Can-Pack SA
  • Sell Side Company:

    Cia Siderurgica Nacional SA
  • Target Company:

    Cia Metalic do Nordeste SA

Brazilian steelmaker Cia Siderúrgica Nacional SA said in a securities filing on Tuesday that it had agreed to sell its Fortaleza, Brasil-based tinmaker, Cia Metalic do Nordeste SA, to Poland's Can-Pack SA for $98 million. The transaction was expected to be concluded on Sept. 30, according to the filing. Reuters reported on Aug. 16 that CSN, as the company is known, was close to announcing the sale of the unit, as a part of a broader effort to build up funds and cut debt.

Tags:

Brazil,Poland,SIDERURGICA NACI,East European Countries,Company News,Metals Markets,Deals,Mining,Iron / Steel,Europe,Stainless Steel,Commodities Markets,Emerging Market Countries,Government / Politics,Mergers / Acquisitions / Takeovers,Corporate Events,Steel,South America / Central America,Central / Eastern Europe,Americas