CSN sells cement business

Sun, Nov 8Companies

What happenedCSN announced an agreement to sell its cement business to Huaxin for R$ 12.7 billion, with Huaxin paying around R$ 9 billion for the shares.
WhyCSN decided to sell its cement business to a Chinese company, indicating a significant transaction in the industry.
Market impactA weaker real makes imports and dollar debt costlier, but this deal's impact on the Brazilian stock market is yet to be seen.
What to watchInvestors will be watching the approval process by regulatory bodies, including the Cade and Aneel, for the next steps in this transaction.

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