ThyssenKrupp tries to speed up CSA sale
Valor Economico International

German group ThyssenKrupp will announce in the next few days the retaining of one or even two investment banks operating internationally to conduct the global process of selling its two steelmaking assets in Brazil and the US – Cia. Siderúrgica do Atlântico (CSA) in Rio de Janeiro and a plant in Mobile County, Alabama. Early in the year, boutique bank OSF Merchant Banking was hired to study strategic options, and now that the decision to sell has been taken, it will continue to advise. Several global banks have been invited and according to OSF Merchant Banking they’re “all very well-known names.” Brazil’s Cia. Siderúrgica Nacional said it will analyze the assets. There’s also expectation in the market that Gerdau, Nippon Steel, JFE, Hyunday Steel and Chinese groups such as Baosteel do the same.