Corus, the Anglo-Dutch steel group today revealed plans for a merger with Brazilian rival Companhia Siderurgica Nacional (CSN).
Corus, which was formed out of the 1999 merger between British Steel and Hoogovens of the Netherlands, said under the terms of the deal its shareholders would own 62.4 per cent of the enlarged company.
CSN shareholders would get shares in a new Brazilian-listed company called TopCo which would hold 37.6 per cent of the enlarged Corus.
Corus first said it was in discussions with CSN at the beginning of July.
READ MORE
AFP