Gerdau SA
rose the most among steel-making peers after the company sold Spanish
operations in a deal that Bank of America Merrill Lynch said foreshadows more
disposals and an accelerated reduction of leverage.
Shares in the Brazilian steelmaker advanced 3 percent to 5.84
reais at 2:04 p.m. in Sao Paulo and rose as much as 5.8 percent. That was the
steepest advance among global competitors tracked by Bloomberg.
The Porto Alegre-based company agreed to sell its specialty
steel operations in Spain to investment group Clerbil for 155 million euros
($174 million), according to regulatory filing Friday. While the deal won’t put
much of a dent in Gerdau’s $4.9 billion in net debt, it signals the company is
moving forward with its disposal strategy and comes as steel prices recover and
Brazil emerges from months of political upheaval,
Nenhum comentário:
Postar um comentário