Gerdau Readies Subsidiary Takeover

Brazilian steelmaker Gerdau says it is considering acquiring all of the shares of Acos Villares as part of a streamlining of its corporate structure. One of its subsidiaries Gerdau Metalurgica holds a 29% direct stake in the company, while Sidenor, which is held by Gerdau and Santander, owns 58% indirect stake, according to Economatica. Gerdau says in a statement it may offer to acquire the entirety of the company at a ratio of 26-30 Villares shares for each share in Gerdau SA. Villares shares closed Friday at BRL0.95.