CSN hires Jefferies to sell assets in Portugal, Germany -paper

Photo by Cia Siderurgica Nacional.

Brazilian steelmaker Cia Siderurgica Nacional has hired U.S. investment bank Jefferies to advise on the sale of its assets in Portugal and Germany, newspaper O Estado de S.Paulo reported on Sunday.

The assets – Lusosider in Portugal and SWT in Germany – are expected to fetch $1 billion by October, the paper reported without citing a source for the information.

CSN is also seeking to close a streaming deal next week with a Canadian bank for its mining output in coming years, which could give it $1.5 billion in cash this year, according to the report.

CSN and Jefferies did not immediately respond to requests for comment.

(Writing by Brad Haynes; editing by Diane Craft).

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