Oct. 11, 2017

Gerdau Divesting Chilean Assets

Gerdau S.A. has agreed to sell 100 percent of its interest in its steel production assets in Chile. The Brazilian steelmaker will sell its long product assets to Chilean family-owned groups Matcoc and Ingenieria e Inversiones. Gerdau’s Chilean facilities have capacity of 520,000 tons.

The deal, which must be approved by the Chilean antitrust authority, is for $154 million. Gerdau officials say the divestiture was completed to optimize the company’s portfolio and support higher profitability and deleveraging.


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Sunday, November 19, 2017