Huaxin Building Materials announced on October 30 that the company intends to acquire the shares of Brazilian Cement Company, the target company held by Brazilian National Steel Company (CSN).
After the competitive negotiation process in the early stage, the company formally signed the Exclusivity Agreement with CSN on October 30, 2026. According to the agreement, CSN grants the company exclusive negotiation rights for a certain period of time, and the two sides aim to sign the final formal transaction documents on the transfer of the shares of the target company in a short period of time. The agreement stipulates that the Enterprise Value of the target company is 12.7 billion reals (about 15.868 billion yuan at the current exchange rate).
The transaction is still subject to the signing of formal transaction documents and the implementation of relevant domestic and foreign approval procedures, and whether it can be finalized is uncertain. This transaction does not constitute a related party transaction, nor does it constitute a major asset reorganization stipulated in the Measures for the Administration of Major Asset Reorganization of Listed Companies.
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