February 21, 2019 / 4:37 PM / 8 months ago

Brazil steelmaker CSN mulls sales of Usiminas shares to cut debt

SAO PAULO, Feb 21 (Reuters) - Cia Siderúrgica Nacional SA , Brazil’s second-largest producer of flat steel products, said on Thursday it is considering selling its preferential shares in its larger rival Usinas Siderúrgicas de Minas Gerais SA.

The sale would help CSN meet it meet its goal of cutting debt to three times EBITDA this year, the company’s Chief Executive Benjamin Steinbruch and other executives said in a call with analysts. CSN can raise 3 billion reais from the sale of assets, such as the Usiminas shares, and is in the final stages of selling its German unit SWT, they said. (Reporting by Alberto Alerigi; Editing by Christian Plumb)

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