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Cade suspends CSN’s rights at Usinas while investigation pending

By  |  April 12, 2012

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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