Brazil's Usiminas board approves 1 bln real capital hike - source

viernes 11 de marzo de 2016 17:09 GYT

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)