Cade delays sale of CSN shares in Usiminas

摘要

The Brazilian integrated steel producer Companhia Siderurgica Nacional (CSN) hasbeen allowed a deadline extension for the sale of its shares in Usiminas.On March 20, the Administrative Council for Economic Defense (Cade) partiallygranted a request from CSN and extended the deadline for the sale of CSN’sshares in its competitor, although the new date for compliance is confidential,according to the official statement. The sale was determined after CSN bought theshares of Usiminas in an attempt to enter the steelmaker’s controlling block in 2011,which could be a competitive attack.