Açominas of Brazil in US$185-million public offering

Agropecuária Senhor do Bonfim Ltda, a wholly-owned subsidiary of Banco Econômico SA - Em Liquidação Extrajudicial, has sold 17.67 per cent of the total capital stock of Aço Minas Gerais SA - Açominas. The stock, which was sold through a public offering, represents 17.67 per cent of the voting stock and 9.79 per cent of the preferred capital stock of Açominas. Gerdau Participações SA, one of the largest steel mills in Latin America, which already held an important stake in Açominas, bought the stake for R$426,550,000, approximately US$185,860,566.

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