Brazilian media has reported that, following a request for review of market conditions made by Usiminas, the purchase of Companhia Siderúrgica do Pecém CSP by ArcelorMittal remains open and should be analyzed the Court of the Administrative Council for Economic Defense Cade, which was earlier approved. According to CADE, Usiminas has added new and valuable technical data to the process, requiring further discussion on the sale. Cade said “The risk of market closure was considered; the consequent increase in costs for competitors; and the possibility of sharing your sensitive data. The process was then forwarded to the Court so that the body could better deal with the case and eventually request clarifications and instructive steps that definitively rule out possible gaps in the analysis of the Merger Act.” Cade said “It is noted that, despite the approval of the Operation without restrictions, the Interested Party contributed valuable technical foundations, all backed by data that allow admitting, even if a priori, the need to deepen the technical debates within the scope of the Court, with the collaboration of the interested parties. In this specque, it is indispensable to verify if the Operation can affect the activities of the other companies that operate in the market.” The Brazilian antitrust authority CADE had approved recently, without restrictions, the acquisition of Companhia Siderurgica do Pecem by ArcelorMittal, for USD 2.2 billion. According to Cade, elements relative to imports and competition in the slab market can mitigate the possibility of market power abuse in the future. ArcelorMittal had signed an agreement with the shareholders of Companhia Siderúrgica do Pecém to acquire CSP for an enterprise value of approximately USD 2.2 billion. CSP and Ternium are the main players in the Brazilian slab domestic market, with market share ranges respectively of 30-40% and 50-60%, while ArcelorMittal, CSN, Gerdau and Usiminas have less that 10% each of market share. Located in Ceará in Brazil and founded in 2008, CSP is a joint venture between Vale 50%, Dongkuk 30% and Posco 20%. CSP was originally a JV of Vale with 50%, Dongkuk 30% and POSCO 20%. It operates a 3 million tonne capacity blast furnace and has access via conveyors to the Port of Pecém, a large scale deep water port located 10 kilometers from the plant. CSP operates within Brazil’s first Export Processing Zone and benefits from various tax incentives including a low corporate income tax rate.