Gerdau SA said May 30 that the Chilean antitrust regulator approved its sale of three long-steel industrial units, with a combined annual production capacity of 520,000 tonnes and a distribution network, to local groups Matco Armacero SA and Ingeniería & Inversiones SA.
The US$154 million deal, announced in October 2017, involves the sale of Aza Participações SpA and its subsidiaries Gerdau AZA SA, Aceros Cox SA, Armacero — Matco SA and Salomon Sack SA by Gerdau Chile Inversiones Ltda.
The Brazilian steelmaker said the deal, which is aimed to reduce debt and boost profitability, is set to conclude in July.
