CSN Takes Stake in Aussie Miner

Brazil steel maker CSN says it is taking a 16.3% stake in Australia’s Riversdale Mining for AUD190.5m or AUD6.10 per share. The target’s share price closed at AUD6.03 November 24. Riversdale is a coal miner operating in southern Africa and Australia. It has a market cap of AUD1.1bn. Advisors’ names were not disclosed.