CSN drops out of race in privatization of Dunaferr
Bnamericas Published: Tuesday, December 09, 2003
Privatization Steel Mergers & Acquisitions Government program Public-private partnership (PPP) Iron ore
Companhia Siderurgica Nacional (CSN) (NYSE: SID), Brazil's second-largest steelmaker, dropped out of the running on Monday afternoon for the privatization of Hungarian steel company Dunaferr. Monday was the deadline for bids to be made and CSN made none. "After a more profound evaluation we came to the conclusion that buying the company wouldn't be an attractive investment for CSN's international growth strategy," the company said.
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