São Paulo, Brazil, June 29th, 2018 – COMPANHIA SIDERÚRGICA NACIONAL (the “Company” or “CSN”), in addition to the Material Fact published on May 14, 2018, hereby informs its shareholders and the market in general that, on this date, it has concluded the sale of the total interest in Companhia Siderúrgica Nacional, LLC, a company located in the United States, to Steel Dynamics, Inc. (“Transaction”).
The price of the Transaction was US$400 million (four hundred million dollars), which at the date exchange rate is equivalent to approximately R$1,500,000,000.00 (one billion, five hundred million Reais), regarded that the final value will still be subject to a post-closing adjustment according to working capital on this date, occurring within 100 days.
The result of the Transaction, considering the sum of the amount received at the closing and the working capital adjustment, is expected to be a total reduction of CSN‘s net indebtedness of approximately R$1,800,000,000.00 (one billion and eight hundred millions of reais), considering the current exchange rate.
The Transaction is part of CSN‘s divestiture and deleverage plan, as already disclosed by the Company.
CSN emphasizes that it will maintain its commercial import and distribution activities in the important North American market through another subsidiary set up for this purpose.
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