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Huaxin board approves purchase of Brazil's CSN Cimentos

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Huaxin Building Materials Group's board approved the purchase of 99.99% of CSN Cimentos, the cement arm of Brazilian steelmaker CSN, the company said on November 8. The deal carries an agreed enterprise value of BRL 12.7 billion, or about $2.31 billion, and an initial equity price of BRL 9.03 billion, or about $1.64 billion.

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