Mexican steel company Grupo Acerero del Norte (GAN), which controls integrated steelmaker Altos Hornos de M?(C)xico (Ahsma), has authorized further negotiations for a potential partnership with Grupo Villacero.
The partnership would aim to recapitalize the company, and would be subject to approval by Mexican competition regulator Cofece. Approval was granted by a shareholders' meeting on Thursday November 26, according to a statement issued by Ahmsa on Friday.The companies did not give details of the deal, such as the...