By Diana Kinch
RIO DE JANEIRO--Germany's ThyssenKrupp AG (TYEKY, TKA.XE) is
inviting non-binding offers of purchase by Sept. 28 for its
loss-making Steel Americas division, Brazil's Valor Economico
business newspaper said Tuesday, without saying where it got the
information.
Around 10 groups have already shown interest in the sale, Valor
said, citing ThyssenKrupp sources. These include the steelmakers
Ternium SA (TX), Companhia Siderurgica Nacional SA (CSNA3.BR, SID),
or CSN, and ArcelorMittal (MT), according to the newspaper.
ThyssenKrupp decided in May to put up for sale its majority
stake in the 5 million metric tons a year Companhia Siderurgica do
Atlantico, or CSA, steel slab works in Brazil and a steel rolling
mill in Alabama, following losses.
Goldman Sachs (GS) and Morgan Stanley (MS), which were appointed
in June to conduct the sale, are now starting to distribute
information on the two works to interested parties, Valor said,
citing unnamed sources. Goldman Sachs is seeking potential buyers
in Brazil and China, while Morgan Stanley is looking for potential
buyers in the rest of South America, the U.S., Europe, South Korea
and Japan, according to the newspaper.
Write to Diana Kinch at diana.kinch@dowjones.com
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