Brazil's CSN signs term sheet to sell German unit to Spain's Megasa for $616 million
SID•CSN signed a binding term sheet to sell its German unit Stahlwerk Thüringen to the controlling shareholder of Spain's Megasa for an enterprise value of €550 million ($616 million). The term sheet provides for up to 10 weeks of exclusivity to negotiate definitive terms.
1. Proposed sale
Brazilian steelmaker CSN said it signed a binding term sheet to sell Germany-based Stahlwerk Thüringen GmbH to the controlling shareholder of Spanish industrial group Megasa for an enterprise value of €550 million ($616 million).
2. Negotiation period
The term sheet sets key terms and conditions for the deal and provides for an exclusivity period of up to 10 weeks to negotiate definitive terms.
