Brazil's Usiminas board approves 1 bln real capital hike - source
By Alberto Alerigi
SAO PAULO, March 11 (Reuters) - Brazilian steelmaker Usinas Siderurgicas de Minas Gerais' board on Friday approved a 1 billion real ($279 million) capital increase proposed by Japan's Nippon Steel & Sumitomo Metals Corporation , according to one source with direct knowledge of the matter.
Three board members representing the other major Usiminas shareholder, Italian-Argentinian group Techint, voted against the proposal, said the same source, who requested anonymity because he was not authorized to speak publicly on the matter. ($1 = 3.5865 Brazilian reais) (Reporting by Alberto Alerigi Jr; Writing by Tatiana Bautzer; Editing by Sandra Maler)
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