Ternium Investments S.À R.L. completed the acquisition of an additional 21.8% stake in Usinas Siderúrgicas de Minas Gerais S.A. from Nippon Steel Corporation and Mitsubishi Corporation.
Ternium Investments S.À R.L. entered into a share purchase agreement to acquire an additional 21.8% stake in Usinas Siderúrgicas de Minas Gerais S.A. (BOVESPA:USIM5) from Nippon Steel Corporation (TSE:5401) and Mitsubishi Corporation (TSE:8058) for approximately $320 million on November 5, 2025. Pursuant to the transaction, Ternium would pay $2.06 per ordinary share, which would result in an aggregate purchase price of approximately $315.2 million in cash for 153.1 million ordinary shares, increasing its participation in the Usiminas control group from 51.5% to 83.1%. The transaction will be financed with cash on hand. Upon the closing of the Transaction, the T/T Group will hold a relative interest of approximately 92.95% of the shares subject to the Shareholders' Agreement, while PU will maintain its 7.05% of such Subject Shares. In relation to the total common shares issued by Usiminas, the T/T Group will hold 71.02% (including the ordinary shares issued by Usiminas owned by Ternium that are not subject to the Shareholders? Agreement, and without disregarding the shares held in treasury). As a result of the Transaction, the NSC Group will cease to be part of the Usinas Siderúrgicas' controlling group and Shareholders' Agreement. The rights and obligations of the PU under the Shareholders' Agreement, including voting and nomination rights, will not change.
The transaction is subject to approval by Brazil's antitrust authorities.
Pinheiro Neto Advogados acted as legal advisor to Nippon Steel Corporation and Mitsubishi Corporation.
Ternium Investments S.À R.L. completed the acquisition of an additional 21.8% stake in Usinas Siderúrgicas de Minas Gerais S.A. (BOVESPA:USIM5) from Nippon Steel Corporation (TSE:5401) and Mitsubishi Corporation (TSE:8058) on February 10, 2026.
Mitsubishi Corp is a Japan-based company mainly engaged in metal resources, natural gas, consumer industry and other businesses. It has ten business segments. Natural Gas segment engages in production and development of natural gas and crude oil. Comprehensive Materials segment engages in sales transactions of carbon, steel products. Chemical Solutions segment engages in sales, business development and investment in chemical-related fields. Metal Resources segment engages in investment and development of metal resources. Industrial Infrastructure segment conducts business in energy infrastructure and industrial plants. Automobile and Mobility segment provides value chain businesses. Food Industry segment conducts sales transactions in food related production. Consumer Industry segment provides products and services in the retail and apparel. Electric Power Solution segment provides power. Complex Urban Development segment conducts urban and real estate development.
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Ternium Investments S.À R.L. completed the acquisition of an additional 21.8% stake in Usinas Siderúrgicas de Minas Gerais S.A. from Nippon Steel Corporation and Mitsubishi Corporation.
