BEST CROSS-BORDER M&A DEAL
Brazil’s Companhia Siderúrgica Nacional (CSN) sold in October 2008 a 40% stake of iron ore unit Namisa to a consortium of Japanese and Korean companies when iron ore prices were sliding, as were practically all other commodities amid the global financial slump.
It was the standout transaction in
a surprisingly active market for cross-border M&A, which is
expected to get busier in 2010.
"The price was excellent for CSN as
it values Namisa as a whole at $7.5 billion. The deal brought
great value at a very difficult moment," says Leonardo Correa,
equity analyst at Barclays Capital.
The stake was sold to a consortium made up of Itochu, Nippon
Steel which owns a...
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