Overview
- Ternium completed the purchase of a 31.5% stake in Usiminas from Nippon Steel and Mitsubishi for US$315.2 million in cash.
- With the acquisition, Ternium Investments’ share in the Usiminas control group rises to 83.1%, and together with Ternium Argentina and Tenaris’ Confab the Techint group now holds 92.9%, leaving the Usiminas employee pension fund with 7.1%.
- The transaction, first announced in November and now filed with regulators, follows Techint’s 2023 agreement that ended a long-running control dispute and included a prior US$141.7 million payment.
- A separate court fight with CSN over a tag-along claim remains active, with a potential indemnity currently estimated at 3.15 billion reais (about US$506 million) after a December adjustment.
- The move comes as attention to a recent gas-pipeline pipe tender eases and as Ternium prepares to release full-year 2025 results on February 18.