Ternium And Tenaris To Jointly Purchase Brazilian Steelmaker For $2.7 Billion
Two Luxembourg-based steel manufacturers, Ternium and Tenaris, owned by the Techint Group, will jointly purchase a 27.7 percent voting stake in Brazilian steelmaker Usinas Siderurgicas de Minas Gerais for $2.7 billion. Terms of the deal calls for Ternium to pay $2.2 billion, while Tenaris to pay the remaining $500 million of the total purchase price. Local attorneys Cristian Mitrani and Diego Parise, partners at Mitrani, Caballero, Rosso Alba, Francia, Ojam & Ruiz Moreno will be advising Ternium and Tenaris on the matter. M&A partner Moacir Zilbovicius, is advising the Techint subsidiaries.