Ternium raises provision for Usiminas acquisition lawsuit to $619.1 million
SID•Ternium’s provision for litigation over its 2012 acquisition of a stake in Usiminas reached $619.1 million at September 30, 2026, up $91.5 million. The steelmaker says CSN’s claims lack merit and is seeking reversal of the indemnification rulings.
1. Provision increases
Ternium’s provision for litigation over its 2012 Usiminas stake acquisition reached $619.1 million at September 30, 2026, an increase of $91.5 million. Brazil’s Superior Court of Justice ordered indemnification to CSN, reversing its earlier rejection of the claim in June 2024.
2. Appeal remains pending
CSN alleges that the buyers were required to launch a tender offer for minority shareholders’ ordinary shares. An appeal remains pending before the Supreme Federal Tribunal after a separate appeal was dismissed on November 26, 2025; Ternium maintains the claims lack merit and seeks reversal of the indemnification rulings.
