Brazil's tax court rules against Gerdau; shares fall
BRASÍLIA, July 13 (Reuters) - Brazil's tax auditing court CARF ruled against steelmaker Gerdau SA on Wednesday in four cases where the company was questioning charges estimated at 4 billion reais ($1.2 billion).
Shares of Gerdau fell more than 5 percent in mid-day trading in Sao Paulo shortly after the ruling's announcement. Gerdau said it would appeal the decision.
(Reporting by Leonardo Goy)
© Thomson Reuters 2016 All rights reserved.