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Saturday, August 20, 2011

Brazil's CSN ups stake in rival steelmaker Usiminas

Aug19, 2011 |By Reuters

SAO PAULO (Reuters) - Brazil's CSN (CSNA3.SA: Quote)(SID.N: Quote) boosted its stake in Usiminas (USIM3.SA: Quote)(USIM5.SA: Quote) in a further step toward changing the rival steelmaker's ownership structure.

Sao Paulo-based CSN raised its holdings of Usiminas' common stock to 11.29 percent, and to 15.15 percent of preferred stock, the company said in a regulatory filing late on Friday.

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