Mergers & Acquisitions ·
CSN agrees to sell German steel unit Stahlwerk Thüringen for €550M enterprise value
SIDNational Steel Co
Companhia Siderúrgica Nacional (CSN) has entered into a binding term sheet with Megasa, the holding company of the Spanish industrial group Megasa, to sell all shares of its German subsidiary Stahlwerk Thüringen GmbH (SWT). The transaction carries an enterprise value of €550 million, subject to customary adjustments. An exclusivity period of up to 10 weeks has been established while definitive agreements are negotiated. This divestment is part of CSN’s ongoing program aimed at reducing leverage. SWT operates a long steel production facility in Germany with an installed capacity of 1.1 million metric tons per year. The company operates in the global steel manufacturing and mining industry.