Brazilian steelmaker, Usinas Siderurgicas de Minas Gerais, will sell a 14.3% stake in Ternium, Bloomberg reports. The stake is worth about $1 billion. Ternium’s controlling shareholder, Techint Group, will buy the shares worth about $250 million. The price and time of the share sale has not been disclosed. The stock will be sold in a public offering.
Click here for the story from Bloomberg.
Click here for the additional coverage from Reuters.