Ternium Plans to Take Usiminas Private, Brazil’s Flat-Steel Leader
Ternium wants to take Usiminas private, O Globo reported on 24 August 2026. The plan needs minority shareholder approval, and no price or timetable has been published. The post Ternium Plans to Take Usiminas Private, Brazil’s Flat-Steel Leader appeared first on The Rio Times .
Brazil's largest flat-steel maker, Usiminas, is reportedly planning to take the company private, according to Brazilian media on August 24, 2026. Shares of Usiminas surged over 7% in response to the news. This move, known as "fechar o capital" or delisting from the stock exchange, involves the approval of Usiminas' minority shareholders.
Ternium, a company part of the Techint group, is the leading contender to take Usiminas private. The plan was first reported by O Globo, Valor Econômico, and InfoMoney, all of which emphasized the need for minority shareholder approval. Ternium, which has controlled Usiminas since 2023, has been working to simplify the company's structure and achieve a 15% reduction in carbon intensity per ton of steel by 2030.
Delisting typically involves an offer to buy out minority shareholders, which would provide a cash exit for them. Usiminas is a key player in Brazil's steel industry, serving car manufacturers and appliance producers. The delisting move could streamline decision-making and reduce governance costs for Ternium. However, the actual terms of the delisting offer, including price, structure, and timeline, have not been disclosed.
The development follows a wave of consolidation in Brazil, where multinationals are increasing their control over subsidiaries to simplify governance and decision-making.
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