Thyssen will renegotiate deals by CSA

Even in a hurry to close the deal, ThyssenKrupp will have to promote a new round of negotiations for the sale of Companhia Siderúrgica do Atlântico (CSA) on the River. It was the second Broadcast, real-time news service the Agência Estado, those interested in bringing the asset to the House will have to improve considerably the proposal this month.
The German group was surprised by the low numbers put on the table by potential buyers of argentina steelmaker Ternium and Companhia Siderúrgica Nacional (CSN), Benjamin Steinbruch of the businessman.
A source with access to negotiations reveals that the two companies played down the offers with the despair of the German group and the withdrawal of competitors. "The Ternium and CSN behave as if they were alone in the dispute," he said. Anyone following the sales process believes that the timing of the completion of the deal will depend on the interest of competitors in going up the value of the proposals.
Before receiving the offers, the term of ThyssenKrupp was to put an end to the dispute by June. The measure would give a huge relief to the German group, which was caught in the crisis of 2009 had counterparts and since then goes through serious financial difficulties.
Industry sources, the two companies would gain with synergies by taking the CSA. But the Ternium comes out ahead by relying on the support of the Government, which does not conceal the dissatisfaction of seeing Benjamin Steinbruch steelmaker in the match. The fear is that the entrepreneur to transfer command of the CSA to São Paulo, as it did with the CSN in the past. To prevent this, the Government of Rio de Janeiro studying impose conditions to renew tax incentives granted to the CSA, as the deferral of GST.
The Brazilian steelmaker's interest is to take advantage of the opportunity to cast off by a lower price a plant opened less than three years. The installation cost of a unit like this is around $ 10 billion.
BNDES
To close the drawing of your proposal, the CSN hit outside the BNDES. But the offer has not presented the Bank as imagined Steinbruch. Despite the Government's interest in reducing the denationalization in the metallurgical sector, the National Broadcast found that the BNDES would not be willing to finance the entrepreneur at any cost, even by his past conflict with the Bank.
CSN wants to give to guarantee a potential loan to own CSA, while the Bank wants an asset of greater weight, such as the Casa de Pedra mine or the Namisa. According to sources, the BANK has already made it clear that it can finance the Argentine Ternium group, if he comes out victorious.
In addition to BNDES, the mining company Vale is another that follows the progress of the negotiations in the distance. Recently, the company President, Murilo Ferreira, emphasized that the company will work to preserve its interests in the CSA. Vale has 26.87% of siderúrgica, while ThyssenKrupp has 73.13%. The mining company has an exclusive deal to provide iron ore and veto power in the choice of partner.