Companhia Siderúrgica Nacional (CSN) has just announced the acquisition of all the shares of the food packaging manufacturer Metalgráfica Iguaçu, from Ponta Grossa (PR). Thus, the operation, which still has to be approved by the shareholders, will turn Iguaçu into a wholly-owned subsidiary of the Volta Redonda (RJ) steel company.
In addition, in exchange for the incorporation of all the shares, Metalgráfica’s shareholders will receive CSN shares, which will be issued through a capital increase, with an expected maximum dilution of 0.01% of CSN’s capital stock, replacing the shares of the acquired company.
For CSN, this operation is a strategic step to expand the production capacity of the company’s packaging division, since the technology used by Metalgráfica is more modern than that used by CSN.
The companies also point out that the economic value of Metalgráfica will be taken into account, evaluated in a preliminary valuation carried out by a specialized company, and in the case of the steel company, the average price of its shares in the last 30 stock market sessions, due to its liquidity and dispersion.
