Local media reported ha Brazilian holding company Votorantim SA will sell its stake at Acerias Paz del Rio by Q1 2022. La Republica report said that the company will sell an undisclosed majority stake at Acerias Paz del Rio to Trinity Capital and Structure Banca de Inversion. The deal is expected to be closed by Q1 of 2022. The sale was sealed with the aim of disposing of the Acerfas shares that Votorantim currently holds. Votorantim has a percentage of 82.42% of the ordinary shares and 100% of the shares with preferential dividend and without the right or vote of the company.The announcement comes years after Votorantim merged its Brazilian business, Votorantim Siderurgia, with ArcelorMittal Brazil. The deal was approved in 2018Votorantim SA owns Acerias Paz del Rio in Colombia and Acerbrag in Argentina. Earlier reports suggest that Votorantim SA will likely sell Acerbrag if it finds an investor willing to assume the mill's operations in Argentina also.
Local media reported ha Brazilian holding company Votorantim SA will sell its stake at Acerias Paz del Rio by Q1 2022. La Republica report said that the company will sell an undisclosed majority stake at Acerias Paz del Rio to Trinity Capital and Structure Banca de Inversion. The deal is expected to be closed by Q1 of 2022. The sale was sealed with the aim of disposing of the Acerfas shares that Votorantim currently holds. Votorantim has a percentage of 82.42% of the ordinary shares and 100% of the shares with preferential dividend and without the right or vote of the company.The announcement comes years after Votorantim merged its Brazilian business, Votorantim Siderurgia, with ArcelorMittal Brazil. The deal was approved in 2018Votorantim SA owns Acerias Paz del Rio in Colombia and Acerbrag in Argentina. Earlier reports suggest that Votorantim SA will likely sell Acerbrag if it finds an investor willing to assume the mill's operations in Argentina also.
