Brasília – This Friday (15th), the European Commission authorized the Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) to buy out four Spanish steel and cement manufacturing companies and a German one, all of which operate under the aegis of the European Community regulations.
In São Paulo, the CSN press office informed Agência Brasil that the company has not been notified about the European Commission’s ruling yet. According to the press office, as soon as receives notice, CSN will forward the matter to the Investor Relations Department for analysis.
In May 2010, CSN announced the buyout of four companies belonging to the Spanish Alfonso Gallardo group – Cementos Balboa, Corrugados Azpeitia, Corrugados Lasao and Gallardo Sections -, and that negotiations were underway for the purchase of the German Stahlwerk Thüringene.
According to analysts, the European Commission authorized the purchase because the after a simplified analysis of the operation, its executive branch concluded that the negotiations do not run counter to European law.
*With information from Agência Lusa. Translated by Gabriel Pomerancblum
