A CSN (Companhia Siderúrgica Nacional) informed that it will implement, this year, the project for the structured sale of important assets, with the purpose of definitively considering the group’s capital structure.
According to a statement sent to CVM (Securities Commission), the company will implement the necessary strategic moves to reduce debt and balance the Group’s capital structure, with the sale of important assets with the aim of deleveraging between R$15 billion to R$18 billionallowing the company to concentrate on segments with greater profitability, growth and synergies.
“The asset sales are part of a management strategy that aims to achieve the potential of, within 8 years, doubling CSN’s EBITDA and achieving sustainable leverage of around 1 times its net debt/EBITDA ratio”, says the company.
According to CSN, sales of participation in assets will be subject to usual conditions to similar transactionsincluding obtaining legal, competition and regulatory approvals, without prejudice to others to be eventually provided for in the definitive documents of the respective operations.
“CSN undertakes to keep its shareholders and the market in general duly informed about any relevant developments related to these projects, in accordance with applicable legislation”, says the company.
