Bonds Corporate & Sovereign Strategy

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, t

Already have an account?

Free trial

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

Free Trial