ArcelorMittal announced on Thursday (28) that it has signed an agreement with the shareholders of Companhia Siderúrgica do Pecém (CSP) to acquire CSP for approximately US$ 2.2 billion. Closing deals require approval from Brazilian corporations and regulators, in particular Administrative Council for Economic Defense (Cade). Full transfer of right is expected by the end of 2022. CSP is a world-class operation, producing high-quality slabs. CSP’s state-of-the-art facilities, located in the northeastern state of Ceará, was put into operation in 2016, producing their first slabs in June of the same year. It uses a blast furnace with capacity of up to three million tons and has access to the Port of Pecém, which is located 10 kilometers from the facilities. CSP operates in Brazil’s first export tax zone in Brazil and enjoys several tax incentives.
Source: Portos e Navios (*Translated by Ia Niani)