Brazil's Usiminas says board approved 1 bln real capital increase
BRASILIA, March 14 (Reuters) - The board of Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA approved a 1 billion real ($279 million) capital increase, Usiminas said on Monday.
The capital injection was proposed by shareholder Nippon Steel & Sumitomo Metal Corp. Three board members representing the other controlling shareholder, Italian-Argentinian Techint Group, voted against the move, a source told Reuters on Friday.
(Reporting by Silvio Cascione; editing by Susan Thomas)
© Thomson Reuters 2016 All rights reserved.