February 22, 2017 / 9:43 AM / 5 months ago

Thyssenkrupp expects CSA sale to lead to net loss

1 Min Read

FRANKFURT, Feb 22 (Reuters) - Thyssenkrupp expects the sale of CSA to Ternium to lead to a net loss as it takes a 900 million euro ($946.5 million) writedown on the Brazilian steel mill.

Thyssenkrupp has agreed to sell CSA to Ternium for an enterprise value of 1.5 billion euros ($1.58 billion). The deal will result in a cash inflow with closing, expected by the end of September, while the the writedown is taken at signing.

Thyssenkrupp previously said it expected net income for its financial year through the end of September to clearly improve from the year-earlier level of 296 million euros.

$1 = 0.9508 euros Reporting by Maria Sheahan; Editing by Victoria Bryan

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