Finance / Argentina
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Techint Wants Minimum US$2.4bn For Sidor
June 2008 | M&A AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The fight continues between the Venezuelan government and steelmaker Sidor, over the appropriate price for Ternium's 60% stake in the company. Venezuela's national assembly announced the nationalisation of Sidor, owned by Ternium, the steel arm of Argentine industrial group Techint, on April 30. Since then, negotiations have been ongoing with little progress. Ternium wants to maintain a minority share in the company and is requesting no less than US$2.4bn for a 50% stake. President Hugo Chavez has mentioned lower prices, calling US$2.4bn 'comical'. Sidor's total assets in Q108 were US$3.1bn with total liabilities of US$855.5mn. However, Ternium has said that