Arcadium shareholders approve sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
Brazilian steelmaker Cia Siderurgica Nacional has hired U.S. investment bank Jefferies to advise on the sale of its assets in Portugal and Germany, newspaper O Estado de S.Paulo reported on Sunday.
The assets – Lusosider in Portugal and SWT in Germany – are expected to fetch $1 billion by October, the paper reported without citing a source for the information.
CSN is also seeking to close a streaming deal next week with a Canadian bank for its mining output in coming years, which could give it $1.5 billion in cash this year, according to the report.
CSN and Jefferies did not immediately respond to requests for comment.
(Writing by Brad Haynes; editing by Diane Craft).
