Ternium ups Usiminas stake, buying out Nippon and Mitsubishi shares

Ternium SA has completed its buyout of Nippon Steel and Mitsubishi’s shares in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA – Usiminas (Usiminas).

Ternium paid $315.2 million in cash to acquire 153.1 million ordinary shares in the Usiminas control group from the Japanese companies.

Upon closing of the previously announced transaction, Ternium’s participation in the Usiminas control group has increased from 51.5% to 83.1%.

Ternium is a Latin American steelmaker headquartered in Luxembourg. Usiminas is a Brazilian flat-rolled steelmaker based in Belo Horizonte in the state of Minas Gerais. Ternium has been slowly increasing its stake in the company.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

Laura Miller

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