Brazilian integrated steelmaker Gerdau plans to conclude its disinvestment plan this year, the company said this week in a call with analysts.
Last week, Gerdau concluded the sale of two power plants in Goias state to Kinross Gold Corporation for BRL 835 million.
The company is also waiting on regulators to approve the sale of steel mills in Florida, Tennessee, California and New Jersey to Commercial Metals Company for a combined $600 million.
So far, Gerdau has disinvested about BRL 6 billion. The company did not provide an exact timeline for it to conclude its disinvestment plan this year.