Itochu to buy 10.74% stake in Brazil's CSN's iron ore unit for $769 million

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TOKYO : Japan's Itochu Corp said on Wednesday that it agreed with Brazil's steel company Companhia Siderúrgica Nacional (CSN) to buy a 10.74 per cent stake in CSN's iron ore unit CSN Mineracao (CM) from CSN for about 4.42 billion real ($769 million).

Itochu to buy 10.Itochu to buy 10.Itochu to buy 10.

CM is the leading iron ore producer and distributor in Brazil.

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Article Details

Category: EconomyBusiness

Markets: SingaporeBrazilJapan

Topics: Brazil Corp Itochu Experience Cent Japan Logo Mediacorp Tokyo Company Iron

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 13:28:47 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 167 words

Reading Time: 1 minutes read

Sentences: 8 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23442756

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