Usiminas Talks M&A Outlook: BTG

Usiminas Talks M&A Outlook: BTG

People Corporate & Sovereign Strategy

Wilson Brumer, CEO of Brazilian Steelmaker Usiminas, see little room for M&A in the Brazilian steel market, given the profile of controlling shareholders at the major players, according to a report from BTG Pactual. “In his view, Nippon is not a seller of its Usiminas stake, and even if 1 of the 2 other shareholders decide to leave (Votorantim or Camargo), they have tag along rights over one another, and it is unlikely that the structure changes materially,” says BTG. However, the shop adds

Already have an account?

Free trial

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

Free Trial