Nippon steel to propose 1 bln reais capital increase for Brazil's Usiminas -source

martes 8 de marzo de 2016 18:20 GYT

SAO PAULO, March 8 (Reuters) - Japan's Nippon Steel & Sumitomo Metal Corp will propose a 1 billion reais ($267 million) capital increase in Brazilian steelmaker Usiminas SA, a source with direct knowledge of the matter said on Tuesday.

Japanese group will make the proposal in a board meeting scheduled for Friday and is willing to finance the capital increase alone if the other major shareholder, Italian-Argentinian conglomerate Techint Group, refuses to participate, the same source said. (Reporting by Alberto Alerigi Jr., Writing by Tatiana Bautzer; Editing by Dan Grebler)