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Cade suspends CSN’s rights at Usinas while investigation pending

By  |  April 12, 2012

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    Brazil’s Cade has suspended Companhia Siderurgica Nacional (CSN)’s shareholder rights at Usinas Siderurgicas de Minas Gerais. CSN has recently purchased Usiminas shares, but Cade is investigating the acquisition to see if it is anticompetitive. Usiminas is CSN’s main rival in the Brazilian flat steel products market. Cade has also prevented CSN from buying more Usiminas stock while the investigation is pending.

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    Related content: Merger Control Reform in Brazil (Victor Pavon-Villamayor, Federal Communications Commission & Leopoldo Pagotto, Veirano Advogados)