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Brazil's CSN strikes deal to sell cement arm to China's Huaxin, says newspaper

By Reuters News

BRASILIA, Nov 7 (Reuters) - Brazilian steelmaker CSN CSNA3.SA signed an agreement on Saturday to sell its cement unit, CSN Cimentos, to China's Huaxin 600801.SS, local newspaper Valor reported, saying the deal values the business at 12.7 billion reais ($2.31 billion), including debt.

CSN did not immediately respond to a Reuters request for comment.

  • The reported valuation had already been disclosed by CSN when it announced in late October that it had entered into a 10-day exclusivity agreement with Huaxin aimed at finalizing the transaction

  • The sale forms part of a broader divestment plan unveiled by CSN earlier this year as the company seeks to reduce debt

  • CSN previously said Huaxin submitted the most attractive bid for CSN Cimentos in a competitive process launched in March 2026


($1 = 5.5053 reais)

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