Vale concludes the sale of CSP
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Vale concludes the sale of CSP
Vale informs, together with its partners Posco Holding Inc. and Dongkuk Steel Mill Co., Ltd, that it has concluded the sale of their respective stakes in Companhia Siderúrgica do Pecém (CSP) to ArcelorMittal. Under the agreed terms, the enterprise value of the transaction was US$ 2.2 billion, which will be used to prepay the outstanding net debt balance of US$ 2.3 billion.
This transaction reinforces Vale's strategy of portfolio simplification, focusing on its core businesses and growth opportunities, guided by a disciplined capital allocation.
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