Ternium Sells Non-Core Assets

Ternium Sells Non-Core Assets


Argentina's Ternium says its subsidiary, IMSA Acero has entered into a stock purchase agreement with BlueScope Steel for the sale of IMSA's interests in Steelscape, ASC Profiles, Varco Pruden Buildings and Metl-Span. The deal values the assets at $730m on a cash-free and debt-free basis, subject to working capital and other adjustments. BlueScope Steel will also assume approximately $20m in under-funded pension liabilities. Ternium intends to use proceeds to prepay debt. "By selling the assets t

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