{"id":97333,"date":"2026-01-27T13:02:21","date_gmt":"2026-01-27T16:02:21","guid":{"rendered":"https:\/\/murray.adv.br\/?p=97333"},"modified":"2026-01-27T13:02:21","modified_gmt":"2026-01-27T16:02:21","slug":"csn-studying-full-exit-from-steel-business","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/csn-studying-full-exit-from-steel-business\/","title":{"rendered":"CSN studying full exit from steel business"},"content":{"rendered":"
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Company started approaching competitors to sell stake or even entire steel arm, and plans to hire bank soon<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n
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01\/27\/2026\u00a0<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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Companhia Sider\u00fargica Nacional (CSN) has made informal contacts with competitors to gauge potential interest in its steel business,\u00a0Valor<\/strong>\u00a0has learned. According to two sources, the group controlled by\u00a0Benjamin Steinbruch<\/strong>\u00a0could sell up to 100% of its steelmaking operation as part of a strategic asset review launched in the second half of last year.<\/p>\n<\/div>\n

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For now, discussions about selling a stake, or even the entirety, of the steel arm have been conducted by the company itself, which is expected to mandate a bank soon to advise on the divestment.<\/p>\n<\/div>\n

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CSN announced this month that it plans to sell between R$15 billion and R$18 billion in assets to reduce financial leverage. At the time, the company said only that it would assess strategic alternatives and paths, which could include partnerships in steelmaking.<\/p>\n<\/div>\n

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In cement, a relatively recent business in the group\u2019s portfolio that has gained scale through a series of acquisitions in recent years, CSN said the plan is to sell control. Morgan Stanley is advising the company on this front.<\/p>\n<\/div>\n

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The group also said it intends to sell a \u201crelevant stake\u201d in its infrastructure assets. According to a source heard by\u00a0Valor<\/strong>, the idea in this case is to divest 20% to 30% of the operation, bringing in a new partner. Bradesco and Citibank have been mandated to run the transaction.<\/p>\n<\/div>\n

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In both cement and infrastructure, the company\u2019s goal is to sign a sale agreement in the third quarter of this year.\u00a0Valor<\/strong>\u00a0has learned that CSN began initial contacts with interested parties last year and already has ongoing talks. The cement business has attracted potential Brazilian and foreign buyers, while the infrastructure stake is being evaluated by international groups, according to a source.<\/p>\n<\/div>\n

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The group\u2019s strategy is to concentrate its businesses in mining and infrastructure, which offer better prospects<\/strong>\u00a0and are expected to contribute more to margins. In steelmaking, the assessment, according to one interlocutor,\u00a0is that the business will remain under pressure from imports<\/a>, competing for CSN resources that could be allocated to more profitable assets.<\/p>\n<\/div>\n

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On the balance-sheet side, the plan is to reduce financial leverage\u2014measured by the ratio of net debt to EBITDA (earnings before interest, taxes, depreciation and amortization)\u2014to around 1 time and to double EBITDA within up to eight years.<\/p>\n<\/div>\n

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Last week, S&P cut the company\u2019s credit rating to \u201cB+\u201d with a negative outlook (implying the possibility of another downgrade within 12 months), citing persistently high leverage.<\/p>\n<\/div>\n

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For 2026 and 2027, the ratings agency projects net debt of more than five times EBITDA, with potential reduction\u2014excluding asset sales\u2014only from 2028 onward. With divestments in cement and infrastructure, the group could reduce debt by about one-third by 2027, according to S&P estimates.<\/p>\n<\/div>\n

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In September, CSN\u2019s financial leverage stood at 3.14 times on an adjusted basis, with net debt of R$37.5 billion.<\/p>\n<\/div>\n

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CSN did not immediately respond to a request for comment.<\/p>\n

*By\u00a0M\u00f4nica Scaramuzzo\u00a0and\u00a0Stella Fontes\u00a0\u2014 S\u00e3o Paulo<\/p>\n

Source: Valor International<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Company started approaching competitors to sell stake or even entire steel arm, and plans to hire bank soon   01\/27\/2026\u00a0 Companhia Sider\u00fargica Nacional (CSN) has made informal contacts with competitors to gauge potential interest in its steel business,\u00a0Valor\u00a0has learned. According to two sources, the group controlled by\u00a0Benjamin Steinbruch\u00a0could sell up to 100% of its steelmaking […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26729],"class_list":["post-97333","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-csn-studying-full-exit-from-steel-business"],"yoast_head":"\nCSN studying full exit from steel business - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/csn-studying-full-exit-from-steel-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CSN studying full exit from steel business - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Company started approaching competitors to sell stake or even entire steel arm, and plans to hire bank soon   01\/27\/2026\u00a0 Companhia Sider\u00fargica Nacional (CSN) has made informal contacts with competitors to gauge potential interest in its steel business,\u00a0Valor\u00a0has learned. 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