Deals

Jun 1, 2005

Techint to Buy Hylsamex
Argentine steelmaker Techint plans to buy Hylsamex, Mexico's third largest steel company, for $2.25 billion. Techint wants to create a company that would combine Hylsamex, Techint's Argentine subsidiary Siderar and Venezuelan iron and steel group Sidor. Mexico's Grupo Alfa agreed to sell its 43% stake in Hylsamex to Techint and its 4.5% stake in Sidor for $107 million. It plans to use $1 billion from the sale, as well as the possible sale of nylon plants to DuPont, to eliminate its $1.24 billion in net debt.

Argentina Delays Repayment
The International Monetary Fund has allowed Argentina, which was scheduled to repay $2.5 billion in loans in 2005, to postpone repayments for a year. Argentina is now in discussions to reach a new loan agreement with the IMF. It owes the Fund a total of $13.4 billion. The country has repaid $5.4 billion...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

Upcoming Events

Poll

Which area will be most profitable for investment banks in LatAm in 2016?

Vote    




Popular Searches