# Gerdau buys out Sumitomo Corp and JSW stakes in Gerdau Summit for $32.6 million

Brazilian steelmaker Gerdau has signed a deal to buy the 39.53% stake owned by Sumitomo Corporation and the 1.74% stake from Japan Steel Works in Gerdau Summit for a total of $32.6 million.

- Type: Acquisition
- Announced: 2024-11-21
- Value: $32.6M
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [The Japan Steel Works](https://endata.com/companies/6204.md) (target)
- [Sumitomo Corporation](https://endata.com/companies/6281.md) (target)
- [Gerdau](https://endata.com/companies/16353.md) (acquirer)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/brazils-gerdau-buys-out-sumitomo-corp-jsw-gerdau-summit-2024-11-21/), 2024-11-21: "Brazilian steelmaker Gerdau has signed a deal to buy out the stakes owned in Gerdau Summit by its joint venture partners Sumitomo Corporation and Japan Steel Works."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.