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Article: Brazil: Gerdau buys 28.9% stake in Acos Villares.
- Article from:
- TendersInfo
- Article date:
- May 24, 2008
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Byline: pinto03
Brazilian steelmaker Gerdau is continuing its shopping spree with the purchase of a 28.9% stake in Acos Villares, a specialty steelmaker with plants in Sao Paulo.
Under the deal, Gerdau subsidiary Metalurgica Gerdau paid 1.30bn reais (US$786mn) to acquire 952mn Villares shares from BNDES Participacoes, the holding company of Brazilian government development bank BNDES, Gerdau said in a statement.
To pay for the acquisition, Metalurgica Gerdau will propose to its shareholders the issue of five-year debentures worth just under 9,924 reais each. The 131,280 debentures to be ...