CSN advances sale of cement division for up to R$ 15 billion

Companhia Siderúrgica Nacional (CSN) is advancing negotiations regarding the sale of its cement division, an operation valued at up to R$ 15 billion. The divestment is part of a broader strategy to strengthen cash flow and reduce the conglomerate's adjusted net debt, which reached R$ 42.1 billion in the second quarter of 2026.

Key interested parties include the Chinese firm Huaxin Cement and a consortium comprising Brazil's Votorantim Cimentos and Italy's Cementir. The company is expected to select a preferred buyer for exclusive negotiations in the coming days. Morgan Stanley is serving as the financial advisor for the transaction.

As an alternative to a direct sale, which has faced delays due to approximately R$ 10 billion in legal and operational contingencies, CSN could pursue an Initial Public Offering (IPO) for its cement operations. An IPO would allow controlling shareholder Benjamin Steinbruch to potentially maintain the operation within the group while avoiding immediate discussions regarding existing liabilities.