Ternium to acquire thyssenkrupp's €1.5B Brazilian steel ops
February 23, 2017
Materials | Rio de Janeiro, Brazil | Corporate Acquisition
Ternium (NYSE: TX) has agreed to acquire from thyssenkrupp (FRA: TKA) the CSA Siderúrgica do Atlântico steel plant in Brazil at an enterprise value of €1.5 billion. To date, thyssenkrupp's steel operations in the Americas have cost the German industrial group over €12 billion in losses, with the CSA deal requiring a writedown of almost €1 billion at signing. Shares of thyssenkrupp closed up roughly 5% on Wednesday and Ternium stock popped more than 10%.