Brazilian steel and cement producer Companhia Siderúrgica Nacional (CSN) has reportedly received non-binding offers for its cement business as part of an ongoing divestment process aimed at reducing group debt, according to Reuters.
Reuters cited sources familiar with the matter as saying the deadline for initial bids passed on 9 May, with Morgan Stanley acting as financial adviser to the sale process.
The report follows earlier indications that CSN’s cement division could be valued at more than BRL10bn (US$2bn).
According to Reuters, both domestic and international groups have expressed interest in the asset, including Brazilian producers Votorantim and J&F, alongside Chinese cement companies Anhui Conch Cement, Sinoma and Huaxin Cement.
Sources cited by Reuters suggested that Votorantim and Anhui Conch had planned to submit bids, while Huaxin Cement reportedly remains active in the process following its expansion into the Brazilian building materials sector in 2024.
Reuters also reported that J&F’s interest had weakened after CSN rejected an earlier offer.
CSN chief financial officer Marco Rabello told Reuters last month that the next phase of the process would involve binding offers from selected bidders following review of the non-binding proposals.
