Companhia Siderúrgica Nacional entered into an agreement to acquire additional 18.61% stake in Panatlântica S.A. from Talavera Administracao e Participacao Ltda for BRL 150 million.

Companhia Siderúrgica Nacional entered into an agreement to acquire an additional 18.61% stake in Panatlântica S.A. from Talavera Administracao e Participacao Ltda for BRL 150 million on October 27, 2023. The consideration shall be paid in national currency in six annual installments, being the first installment due on the closing date of the Transaction and the other installments due on the next subsequent anniversaries of the closing date of the Transaction. Following the transaction, Companhia Siderúrgica Nacional owns a 29.91% stake in Panatlântica.

The closing of the Transaction remains subject, among other conditions precedent, to the approval of the antitrust governmental authorities.