Ternium’s €1.26 billion acquisition of CSA Siderúrgica do Atlântico Ltda.

Mitrani Caballero Ojam & Ruiz Moreno, Allen & Overy, Sullivan & Cromwell, Elvinger Hoss Prussen, Gedik & Eraksoy Avukatlık Ortaklığı, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga, BMA-Barbosa, Müssnich, Aragão, Ritch, Mueller, Heather y Nicolau, Linklaters, Lobo de Rizzo, Milbank, Tweed, Hadley & McCloy, Loyens & Loeff and Mijares, Angoitia, Cortés y Fuentes, advised on the deal

Ternium executed the definitive agreement with the German conglomerate thyssenkrupp AG (“tkAG”) to acquire for a total of 1.26 billion euros plus debt a 100% ownership interest in thyssenkrupp Slab International B.V. (“tkSI”) and its wholly-owned subsidiary CSA Siderúrgica do Atlântico Ltda. (“CSA”) in Brazil.

In addition, tkAG assigned to Ternium a two-million-ton per year agreement to supply slabs to thyssenkrupp’s former Calvert re-rolling facility in Alabama, U.S.

With annual crude steel production of six million tons and shipments of 9.8 million tons, Ternium purchased from third parties approximately 3.7 million tons of steel slabs in 2016, that were processed in its downstream facilities to obtain finished steel products to supply its customers. After the completion of the CSA acquisition, Ternium will substantially increase its steelmaking capacity.

To finance the acquisition, Ternium secured a Syndicated loan with Citigroup Global Markets Inc., Intesa Sanpaolo S.p.A, JPMorgan Chase Bank, Natixis, Bank of Tokyo Mitsubishi UFJ, Bank of America, BNP Paribas, Crédit Agricole Corporate and Investment Bank and HSBC.

In Argentina, Mitrani Caballero Ojam & Ruiz Moreno advised Ternium S.A. with Diego Parise (Picture), Juan Ignacio Soma, Jorge Pico, Esteban Valansi, Corina Laudato, Guillermo Cornejo Bosch, Agustín Goncalves Borrega and Cecilia Brunelli.

Allen & Overy advised Ternium S.A. with Karine Kodde, Jochem Kin, Danielle du Bois-Bune, Cecile Witlox, Rozemin Wissels, Kristin Fruhnert, Rene Galle and Emre Onal.

In US, Sullivan & Cromwell advised Ternium S.A. with Sergio Galvis and Eric H. Queen.

In Luxemburg, Elvinger Hoss Prussen advised Ternium S.A. with Toinon Hoss and Azadeh Djazayeri.

In Brazil, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Ternium S.A. with Eduardo Damião Gonçalves, Moacir Zilbovicius, Luiz Gustavo Escorcio Bezerra, Adriano Castello Branco, Pedro Santos Cruz, Fábio Coelho Studart Montenegro, Maria Amélia Colaço Alves Araujo, Ligia Lima Godoy, Janaína de Cássia Gomes Vargas and Akin Santos Ribeiro da Silva.

BMA-Barbosa, Müssnich, Aragão advised Ternium S.A. with Barbara Rosenberg, Carolina Cury and Patrcia Avigni.

In Mexico, Ritch, Mueller, Heather y Nicolau advised Ternium S.A. with Carlos Obregón, Ana Casasús Trejo and Alejandra de la Mora Mutzenbecher.

Linklaters advised thyssenkrupp AG with Ralph Wollburg, Sebastian Benz, Christoph van Lier, Tobias Bünten, Alexander Jüngst and Christoph Barth.

In Brazil, Lobo de Rizzo Advogados advised thyssenkrupp AG with Sergio Bruna.

Milbank advised Citigroup Global Markets Inc., Intesa Sanpaolo S.p.A, JPMorgan Chase Bank, Natixis, Bank of Tokyo Mitsubishi UFJ, Bank of America, BNP Paribas, Crédit Agricole Corporate and Investment Bank and HSBC with with Carlos T. Albarracín, Jaime Ramírez, Andrés Osornio and Gonzalo Guitart.

In Luxemburg, Loyens & Loeff advised Citigroup Global Markets Inc., Intesa Sanpaolo S.p.A, JPMorgan Chase Bank, Natixis, Bank of Tokyo Mitsubishi UFJ, Bank of America, BNP Paribas, Crédit Agricole Corporate and Investment Bank and HSBC with Judith Raijmakers, Natalja Taillefer, Chiara Bardini, Sabine Schoute and Álvaro Garrido Mesa.

Mijares, Angoitia, Cortés y Fuentes advised Citigroup Global Markets Inc., Intesa Sanpaolo S.p.A, JPMorgan Chase Bank, Natixis, Bank of Tokyo Mitsubishi UFJ, Bank of America, BNP Paribas, Crédit Agricole Corporate and Investment Bank and HSBC with Manuel Echave Pintado, Horacio de Uriarte and Luis A. Rutz Vega.

 

Involved fees earner: Sérgio Varella Bruna – Lobo & de Rizzo; Diego Parise – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Juan Ignacio Soma – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Guillermo Cornejo Bosch – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Agustín Goncalves Borrega – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Jorge Pico – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Esteban Valansi – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Cecilia Brunelli – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Corina Laudato – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Carlos Obregón Rojo – Ritch, Mueller, Heather y Nicolau, SC; Ana Casasús Trejo Lerdo – Ritch, Mueller, Heather y Nicolau, SC; Alejandra de la Mora Mutzenbecher – Ritch, Mueller, Heather y Nicolau, SC; Manuel Echave Pintado – Mijares, Angoitia, Cortés y Fuentes, S.C.; Horacio de Uriarte – Mijares, Angoitia, Cortés y Fuentes, S.C.; Luis Antonio Rutz Vega – Mijares, Angoitia, Cortés y Fuentes, S.C.; Barbara Rosenberg – Barbosa, Müssnich & Aragào; Carolina Cury Ricciardi – Barbosa, Müssnich & Aragào; Patrícia Avigni – Barbosa, Müssnich & Aragào; Eduardo Damião Gonçalves – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Ligia Lima Godoy – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Moacir Zilbovicius – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Adriano Castello Branco – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pedro Santos Cruz – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Fábio Coelho Studart Montenegro – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Luiz Gustavo Escorcio Bezerra – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Akin Santos Ribeiro da Silva – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Janaína de Cássia Gomes Vargas – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Toinon Hoss – Elvinger Hoss Prussen; Azadeh Djazayeri – Elvinger Hoss Prussen; Toinon Hoss – Elvinger Hoss Prussen; Carlos Albarracín – Milbank; Jaime Ramirez – Milbank; Andres Osornio Ocaranza – Milbank; Judith Raijmakers – Loyens & Loeff; Natalja Taillefer – Loyens & Loeff; Sabine Schoute – Loyens & Loeff; Alvaro Garrido Mesa – Loyens & Loeff; Chiara Bardini – Loyens & Loeff; Sergio Galvis – Sullivan & Cromwell; Eric Queen – Sullivan & Cromwell; Ralph Wollburg – Linklaters; Christoph van Lier – Linklaters; Tobias Bünten – Linklaters; Alexander Jüngst – Linklaters; Sebastian Benz – Linklaters; Christoph Barth – Linklaters; Karine Kodde – Allen & Overy; Danielle du Bois-Bune – Allen & Overy; Cecile Witlox – Allen & Overy; Rozemin Wissels – Allen & Overy; Kristin Fruhnert – Allen & Overy; Jochem Kin – Allen & Overy; René Galle – Allen & Overy; Emre Onal – Allen & Overy;

Law Firms: Lobo & de Rizzo; Mitrani Caballero Ojam & Ruiz Moreno Abogados; Ritch, Mueller, Heather y Nicolau, SC; Mijares, Angoitia, Cortés y Fuentes, S.C.; Barbosa, Müssnich & Aragào; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Elvinger Hoss Prussen; Milbank; Loyens & Loeff; Sullivan & Cromwell; Linklaters; Allen & Overy;

Clients: BNP Paribas; Citigroup Global Markets Ltd; Crédit Agricole Corporate and Investment Bank; HSBC; Intesa Sanpaolo S.p.A.; Bank of America; Natixis; ThyssenKrupp; Bank of Tokyo Mitsubishi UFJ; JPMorgan Chase & Co.; Ternium SA;

 

Author: Ambrogio Visconti.