J&F mulls purchase of controlling stake in CSN Cimentos, Estadao reports

About this update from Companhia Siderurgica Nacional

J&F, the holding company owned by Brazil's billionaire Batista family, is considering the acquisition of a controlling stake in CSN Cimentos, the cement unit of Brazilian steel and mining group CSN BMFBOVESPA:CSNA3, local newspaper O Estado de S. Paulo reported on Thursday.The deal is estimated to be at least 10 billion reais ($1.92 billion), including debt, and based on 100% of the shares, said the newspaper.CSN Cimentos was offered to J&F, which showed interest in the purchase and is mulling over the transaction, it added, citing sources.Under the potential deal, the cement unit would be separated from CSN's broader operations - taking with it some of the group's debt - and then would receive a capital injection from J&F, Estadao said. J&F and CSN did not immediately respond to requests for comment.CSN last month said it would kick off a major divestment plan as it aims to reduce debt. ($1 = 5.2104 reais)

View stock analysis, news, and events for Companhia Siderurgica Nacional