CSN (CSNA3) works on offer to acquire mining company Samarco – Money Times

Samarco
RK Partners is in contact with the owners of Samarco (Image: REUTERS/Ricardo Moraes)

Companhia Siderúrgica Nacional is preparing an offer to acquire Samarco Miningwhich will be presented to the bankruptcy court judge overseeing the miner’s debt restructuring, said a person with knowledge of the matter.

THE CSN (CSNA3) hired restructuring firm RK Partners to draft a proposal to buy control of Samarco, the source said, requesting anonymity to disclose private discussions.

The newspaper O Globo reported on Sunday CSN’s interest in Samarco.

RK Partners is contacting the owners of Samarco, OK (VALE3) and BHP, as well as unions and financial creditors, the source said.

An agreement may not be easy, according to the source, due to Samarco’s liabilities related to the 2015 disaster in the city of Mariana (MG).

Shareholders who have pledged to pay damages may resist any proposal to relinquish control of operations while retaining that responsibility.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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