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UPDATE 1-Nippon Steel pushing hard for Usiminas cash injection -source
2016-03-09 01:14:13| Steel - Topix.net
Japan's Nippon Steel & Sumitomo Metal Corp will press hard to approve a capital increase for Brazilian steelmaker Usiminas SA this week, with a threat to sue if fellow shareholders block the motion, a source with knowledge of the matter said on Tuesday. The Japanese group will propose a cash injection of 1 billion reais at a Friday board meeting, and is willing to finance the capital increase alone if the other major shareholder, Italian-Argentinian conglomerate Techint Group, refuses to participate, the same source said.
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Category:Materials