ThyssenKrupp Said to Consider Holding on to Brazil Plant
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ThyssenKrupp AG, the German steelmaker that’s spent 16 months trying to sell its Americas unit, may hold on to its plant in Brazil and sell only the U.S. operation, two people briefed on the discussions said.
A deal to divest the U.S. mill would require some of the Brazilian plant’s output be processed at the Alabama site, one of the people said, asking not to be named because the talks are confidential. Bids for the Brazilian facility have been too low, and ThyssenKrupp has accepted that the Steel Americas division won’t fetch its 3.4 billion-euro ($4.5 billion) book value and faces a further writedown, the other person said.