The technical staff with Brazil’s antitrust watchdog CADE approved steelmaker Companhia Siderurgica Nacional’s (CSN) acquisition of Holcim’s local business with no restriction, reported Reuters.
However, the move only represents an initial approval as the deal could be blocked by CADE’s board of directors, who are required to analyze the transaction prior to giving final approval.
In September, CSN’s cement unit agreed to acquire Holcim’s Brazilian business for $1.025 billion.
