Business Services Industry
Brazil: CVRD and BHP join to struggle for Ferteco.
South American Business Information, March, 2001
Brazil, Mar 7, 2001
Ferteco, subsidiary of German group ThyssenKrupp, is one of the last steel mill companies to be sold off. Citi Salomon Smith Barney and UBS Warburg are supporting Thyssen in the operation. CVRD (Companhia Vale do Rio Doce), Rio Tinto, LKAB and Anglo American are prospect bidders for Ferteco. The business is estimated at between US$500mil and US$800mil. Ferteco holds assets worth between US$100mil and US$200mil. Ferteco exported 20.2mil m tons of iron and sold 6.14mil m tons in the domestic market. According to market sources Vale and BHP will join to struggle for Ferteco.
Copyright (c) 2001, South American Business Information, All rights reserved.
INDUSTRY KEYWORD: Blast Furnaces & Steel Mills
EVENT:...
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