China steelmakers to bid for stake in CSN iron ore unit – report

June 20, 2008

June 20th (Forbes) – A consortium comprising Chinese steelmakers and China’s sovereign wealth fund is entering the bidding for a stake in the iron ore unit of Brazil’s Companhia Siderurgica Nacional SA, people familiar with the situation told the Wall Street Journal.

CSN has invited bids for all or part of the unlisted unit, Nacional Minerios SA. China’s Baosteel Group Co, Shougang Group and Shagang Group are interested, though the composition of the consortium has not been finalized yet, one Journal source said.

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