Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
COMPANHIA SIDERÚRGICA NACIONAL
Publicly-held Company
Corporate Taxpayer's ID (CNPJ/MF): 33.042.730/0001-04
Company Registry (NIRE): 35-3.0039609.0
MATERIAL FACT
COMPANHIA SIDERÚRGICA NACIONAL (the "Company" or "CSN"), in addition to the Material Fact published on May 14, 2018, hereby informs its shareholders and the market in general that, on this date, it has concluded the sale of the total interest in Companhia Siderúrgica Nacional, LLC, a company located in the United States, to Steel Dynamics, Inc. ("Transaction").
The price of the Transaction was US$400 million (four hundred million dollars), which at the date exchange rate is equivalent to approximately R$1,500,000,000.00 (one billion, five hundred million Reais), regarded that the final value will still be subject to a post-closing adjustment according to working capital on this date, occurring within 100 days.
The result of the Transaction, considering the sum of the amount received at the closing and the working capital adjustment, is expected to be a total reduction of CSN's net indebtedness of approximately R$1,800,000,000.00 (one billion and eight hundred millions of reais), considering the current exchange rate.
The Transaction is part of CSN's divestiture and deleverage plan, as already disclosed by the Company.
CSN emphasizes that it will maintain its commercial import and distribution activities in the important North American market through another subsidiary set up for this purpose.
São Paulo, June 29, 2018.
Marcelo Cunha Ribeiro
Chief Financial and Investor Relations Officer
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COMPANHIA SIDERÚRGICA NACIONAL | |
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By: |
/S/ Benjamin Steinbruch
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Benjamin Steinbruch
Chief Executive Officer | |
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COMPANHIA SIDERÚRGICA NACIONAL | |
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By: |
/S/ Marcelo Cunha Ribeiro
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Marcelo Cunha Ribeiro
IR Executive Officer | |
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.