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)
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