LUXEMBOURG--(BUSINESS WIRE)--Ternium S.A. (NYSE:TX) announced today that, in a private transaction, it acquired from CVRD International S.A., a wholly-owned subsidiary of Companhia Vale do Rio Doce (NYSE:RIO) (NYSE:RIOPR), or CVRD, 16,860,000 shares, or 4.85%, of Siderar S.A. for an aggregate purchase price of US$107.5 million. The price per share paid to CVRD is US$6.376 which reflects a discount to market price. Upon consummation of this transaction, Ternium has increased its ownership in Siderar to 211,701,012 shares, or 60.93%.
Ternium is one of the leading steel companies in the Americas, offering a wide range of flat and long steel products. Ternium has operating locations in Mexico, Argentina and Venezuela that provide it with a strong position from which to serve its core markets. In addition, Ternium reaches the global markets through its own distribution network. More information about Ternium is available on the Company’s Web site at www.ternium.com.