ENRC Expands in Brazil

ENRC Expands in Brazil

Brazil M&A

London-based mining company ENRC is expanding in Brazil with the acquisition from the Couri family of iron ore miner Mineracao Minas Bahia and a 51% stake in Mineracao Peixe Bravo for $304m in cash. As part of the deal Steel do Brasil Participacoes will receive $54m to waive their option to acquire Minas Bahia and subscribe to new shares of Peixe Bravo. The transaction is expected to close today. In September, ENRC said it would acquire the 50% stake it does not yet own in Bahia Minerals from Za

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