Techint pours $54 mln into Brazil's Usiminas in capital plan

lunes 23 de mayo de 2016 17:17 GYT
 

SAO PAULO May 23 (Reuters) - Italian industrial conglomerate Techint Group on Monday bought 193.5 million reais ($54 million) worth of shares in Usinas Siderúrgicas de Minas Gerais, as part of a capital plan aimed at shoring up the Brazilian steelmaker.

Techint, through several units, including steelmaker Ternium SA, bought 38.7 million shares in Usiminas, as the company is known, to help bolster the ailing steelmaker, as it struggles with slumping sales and a swelling debt burden. Techint and Japans Nippon Steel & Sumitomo Metal Corp are the two top shareholders in Usiminas. ($1 = 3.5745 Brazilian reais) (Reporting by Tatiana Bautzer; Editing by Jonathan Oatis)