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Companhia Siderúrgica Nacional ( (SID) ) just unveiled an update.
CSN announced a binding proposal to acquire 70% of Estrela Comércio e Participações S.A., the holding company of Tora Transportes Group, for R$742.5 million. This strategic acquisition aims to bolster CSN’s logistics operations by capitalizing on Tora Group’s expertise in road-rail integration and terminal operations, strengthening CSN’s market position in the logistics sector. The acquisition is subject to legal and regulatory approvals, including from the Administrative Council for Economic Defense (CADE).
More about Companhia Siderúrgica Nacional
Companhia Siderúrgica Nacional (CSN) is a major player in the steel industry, known for its production and distribution of steel products. The company is headquartered in São Paulo, Brazil, and is publicly traded on both the B3 and NYSE. CSN has a strong focus on expanding its operations within the logistics sector, leveraging its existing infrastructure to enhance its intermodal transport capabilities.
YTD Price Performance: -45.94%
Average Trading Volume: 2,230,692
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.55B
Find detailed analytics on SID stock on TipRanks’ Stock Analysis page.
