Vale Selling Its Stake in CSA to Thyssenkrupp

German steel giant and elevator manufacturer Thyssenkrupp is back in steel industry news again. The company will take full ownership of Companhia Siderúrgica do Atlantico (CSA) from Brazilian mining company Vale SA.

Vale owns 27 percent of CSA and plans to sell it to Thyssenkrupp AG for a “symbolic price” while remaining sole supplier of iron ore to the mill and divesting itself of CSA’s debts. If Thyssenkrupp should sell CSA to a third party, Vale will be entitled to future income for an unspecified “period of time.”