By Luciana Magalhaes
SAO PAULO, April 14 (Reuters) – Brazilian steelmaker CSN is pushing ahead with the sale of its cement unit, which could fetch over 10 billion reais ($2 billion), according to two people familiar with the matter.
The talks involve local and international players, including Brazil’s Votorantim and J&F S.A., which also controls meatpacker JBS, as well as Chinese companies Anhui Conch Cement, Huaxin Cement, which acquired a Brazilian company in 2024, and Sinoma International.
The interest from these Chinese groups was reported earlier in the day by the Brazilian newspaper Valor Econômico and independently confirmed by Reuters.
CSN, Votorantim, and J&F declined to comment. Anhui Conch, Huaxin, and Sinoma did not respond to requests for comment.
Votorantim could bid on the cement maker solo or with a partner if it decides to pursue the acquisition, according to one of the sources. The same person, who spoke on condition of anonymity, citing the confidential nature of the talks, said J&F was discussing a potential offer of 10 billion reais for the asset.
As part of its efforts to reduce debt, CSN is divesting certain assets. Chief Financial Officer Marco Rabello recently said that the company expects to complete the sale of its cement unit, CSN Cimentos, and sell a stake in its logistics company by the third quarter, potentially raising up to 18 billion reais.
Rabello also said that CSN had hired Morgan Stanley to advise on the sale of control of CSN Cimentos and mandated Bradesco and Citibank to advise on the process involving its logistics company.
(Reporting by Luciana Magalhaes; Editing by Brad Haynes and Aurora Ellis)
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