Techint Group's Stake In Usiminas Ends CSN's Takeover Dreams

CFW View: The news that Argentinean steel maker Techint Group has bought a 27.7 percent voting stake in Brazil's second largest steel producer Usinas Siderurgicas de Minas Gerais (Usiminas) follows months of market speculation and corporate manoeuvrings over the possible takeover of the Brazilian firm. The move ends the takeover aspirations of rival steel maker Cia. Siderurgica Nacional (CSN) and provides Techint Group - through subsidiaries Ternium and Tenaris - with greater access to the vast, dynamic Brazilian market.

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