![]() ![]() Representatives for Techint allege that no money can be pumped into the company unless Nippon Steel agrees to rebuild the shareholder accord that was broken when both clashed. In turn, Italy’s Techint asked that a Nippon Steel-backed plan to inject fresh capital into Usiminas be kept out of the meeting, the same sources added. ![]() Sources said that Itaú Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil SA and Banco do Brasil SA demand the company be capitalized prior to any debt relief plan.Īccording to both sources, representatives of Nippon Steel in the board asked fellow members not to discuss a proposal requiring banks to accept a so-called 180-day standstill agreement, saying it could hamper the position of another creditor, the Japan Bank for International Cooperation. Once the event is over, your troop status will be back to its original state. Reuters reported last week that Usiminas is in talks with four major banks to refinance those loans. CAPITAL CLASH: Same rules apply with Bunker/Facility RESERVOIR RAID: No troops will be dead or wounded but you will get wounded reports while you are in the event. ![]() The company is struggling with Brazil’s deepest recession in decades and the impact of the shareholder dispute. At stake is the survival of Usiminas, which was founded 53 years ago to help supply flat steel products for Brazil’s thriving auto-making and home appliances industries located in the state of Minas Gerais and neighboring regions in Brazil’s Southeast. ![]()
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