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Companhia Siderúrgica Nacional ( (SID) ) has provided an announcement.
CSN announced a strategic acquisition of a 70% stake in Estrela Comércio e Participações S.A., the holding company of Tora Transportes Group, for R$ 742.5 million. This acquisition aims to bolster CSN’s logistics operations by leveraging Tora Group’s expertise in road-rail integration and terminal operations, thereby strengthening CSN’s position in the logistics market. The transaction is subject to regulatory approvals, including the consent of the Administrative Council for Economic Defense.
More about Companhia Siderúrgica Nacional
Companhia Siderúrgica Nacional (CSN) is a leading company in the steel industry, primarily involved in producing steel products. It is also significantly expanding its operations in the logistics sector with a focus on enhancing intermodal transportation and infrastructure utilization.
YTD Price Performance: -59.40%
Average Trading Volume: 2,329,185
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.89B
Learn more about SID stock on TipRanks’ Stock Analysis page.
