Brazil’s Usiminas seeks way out of crisis

摘要

Usiminas, the largest Latin American steelmaker on the verge of bankruptcy, is seeking a way out of the current situation, eyeing sale of non-core assets and refinancing.To attract additional funds, the company is looking into sale of of its Usiminas Mecanica service division in Ipatinga, Minas Gerais state. In November 2015, Usiminas has turned to Credit Suisse finance group to sell the asset.Market participants believe the company may get BRL 300-700 million from the sale (about $75.3-175.8 million at$1 = BRL 3.9814). The company may also put up for sale its stake (19.92%) in MRS Logistica railway company, aswell as some estate property.