Gerdau SA Secures R$1.77 Billion After Court Victory

Gerdau SA (GGB) has released an update.

Gerdau SA has announced the successful withdrawal of R$1.77 billion following a court ruling in their favor regarding tax payments. The company plans to use the funds to offset a tax credit of R$786 million, with no significant impact on their current year’s income statements as the gain has already been accounted for in their financial reports.

For further insights into GGB stock, check out TipRanks’ Stock Analysis page.