AZA

CAP and AZA agreed to combine their steel businesses in a transaction valued at US$484 million, creating a new company where AZA will hold 85%, to reactivate steel production at the Huachipato plant in Chile with green steel plans using electric arc furnaces.

CAP Group announced the sale of Compañía Siderúrgica Huachipato (CSH) to AZA for US$130 million, paid in cash and shares, giving CAP a 15% stake in the new entity Aceros AZA. The deal includes plans to build an electric arc furnace with at least 500,000 tonnes capacity and a US$250 million investment.