Ternium S.A. said it has not approved any transaction to cancel Usiminas S.A.'s public company registration or initiate delisting talks, following a request for clarification from Brazil's securities regulator.
The Comissão de Valores Mobiliários (CVM) sought details after a column in O Globo by journalist Lauro Jardim suggested Ternium was considering taking Usiminas private. The article, published on August 25, 2026, coincided with unusual trading activity in Usiminas shares, prompting the regulator's inquiry.
In a fato relevante filing on the same day, Ternium stated that its statement in the column was "untrue," adding that it has not engaged in any negotiations or discussions regarding closing Usiminas' capital. The company noted that it routinely evaluates strategic alternatives, including potential investments in Usiminas, but emphasized that any future share-related operations would be disclosed to Usiminas and the market in accordance with applicable regulations.
Usiminas, a major Brazilian steel producer, confirmed it had contacted Ternium in response to the CVM's request. The exchange of statements and filings occurred within hours of the initial report's publication and the regulator's subsequent inquiry.
Ternium's denial follows standard corporate practice for controlling shareholders in Brazil, where material developments involving listed subsidiaries are subject to immediate public disclosure under CVM rules.
