Brazil: Votorantim and Huaxin Cement have entered talks to acquire the cement division of Cia. Siderúrgica Nacional (CSN) for a purchase price as high as US$3bn. CSN is evaluating the sale with Morgan Stanley and expects to conclude transactions in the third quarter of 2026, but talks are still in the early stages, with other companies also in the running. CSN’s debt rose by 11% to US$8bn in the fourth quarter of 2025. The company reportedly plans to use shares in its cement division as collateral, the size of which may amount to US$1.3-1.5bn.
Votorantim and Huaxin Cement in talks to acquire CSN cement division
