Batista Seeks to Acquire CSN Cement Business, Seller Looks to Divest Assets Under Debt Pressure

LootboxPhobia · 2026-03-20T22:00:42+00:00

Brazilian billionaire Joesley Batista is negotiating to acquire the cement division of Brazil's National Steel Company, facing enormous pressure to sell. Meanwhile, Votorantim Group and China's Huaxin Cement are also considering acquisitions. Batista has also expressed interest in CSN's mining division.

LootboxPhobia

2026-03-20 22:00:42

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Investing.com - According to Bloomberg, citing sources, Brazilian billionaire Joesley Batista is in talks to acquire the cement division of Companhia Siderúrgica Nacional (NYSE: SID). Batista is negotiating directly with Benjamin Steinbruch, the controlling shareholder and CEO of the struggling steel group.

Steinbruch is under significant pressure from lenders to sell assets. Morgan Stanley has been representing CSN in marketing the cement subsidiary.

Sources say Batista, through his family investment vehicle J&F SA, has also shown interest in CSN’s mining division. Last year, the mining division produced 45.5 million tons of high-quality iron ore.

Sources also indicate that Votorantim SA and China Huaxin Cement Co. are in discussions to acquire the cement business. Due to the private nature of the discussions, sources requested anonymity.

CSN stands for Companhia Siderúrgica Nacional. Sources say the mining division is one of the most stable segments of the group’s business.

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