Ternium to Increase its Participation in Usiminas Control Group - New Governance Structure of Usiminas

Mar 30, 2023

LUXEMBOURG / ACCESSWIRE / March 30, 2023 / Ternium S.A. (NYSE:TX, Financial) announced today that its subsidiaries Ternium Investments and Ternium Argentina, together with Confab, a subsidiary of its affiliate Tenaris S.A., all of which compose the T/T group within Usiminas control group, have entered into a share purchase agreement to acquire from Nippon Steel Corporation, Mitsubishi and MetalOne (the "NSC group"), pro rata to their current participations in the T/T group, 68.7 million ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A. - USIMINAS ("Usiminas") at a price of BRL10 per ordinary share. Pursuant to the transaction, Ternium would pay approximately $111.0 million in cash for 57.7 million ordinary shares, increasing its participation in the Usiminas control group to 51.5%. The transaction is subject to approval by Brazil's antitrust authorities and will be financed with cash on hand.

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