A Japan and South Korean consortium will acquire a 15% stake in Brazil’s Companhia Brasileira de Metalurgia e Mineracao (CBMM), The Wall Street Journal reports. The consortium offered around $1.95 billion for the acquisition.
The group consists of JFE Holdings, Nippon Steel, Sojitz, Japan Oil, Gas & Metals National and South Korea’s National Pension Service and Posco. The Japanese companies will take a joint 10% stake and the remaining 5% will be divided among the two Korean companies.
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