Thyssenkrupp ends costly Americas venture with CSA sale to Ternium

Sao Paulo

THYSSENKRUPP AG has struck a deal to sell money-losing Brazilian steel mill CSA Cia Siderúrgica do Atlántico SA to Ternium SA for 1.26 billion euros (S$1.88 billion), ending a foray into the Americas that led to years of massive losses.

Including debt, the deal gives CSA, the largest foreign investment project ever in Brazil, an enterprise value of 1.5 billion euros.