BRASILIA, Feb 24 (Reuters) - Ternium SA is not considering at this moment selling its stake in Brazilian steelmaker Usiminas, the company’s chief executive officer, Daniel Novegil, said on Wednesday.
Japan’s Nippon Steel & Sumitomo Metal Corp, which is vying for control of financially strapped Usiminas, is open to buying Luxembourg-based Ternium’s stake in Usinas Siderúrgicas de Minas Gerais SA, as the company is known officially, a source told Reuters on Feb 18.
“Brazil is very important for Ternium and it makes sense for the company to stay here for the long run. We are not willing to sell our stake at this moment,” Novegil said in a teleconference with analysts. (Reporting by Alonso Soto; Editing by Leslie Adler)