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Brazilian courts order Tenaris and Ternium to pay indemnifications for Usiminas acquisition, despite companies' objections.
Brazilian courts have ordered Tenaris and Ternium, major steel companies, to pay significant indemnifications related to their 2012 acquisition of a stake in Usiminas.
The Superior Court of Justice confirmed the obligation but reduced the amount due by modifying the monetary adjustments and capping legal fees.
Tenaris and Ternium argue the claims are baseless and plan to appeal the decision.
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Los tribunales brasileños ordenan a Tenaris y Ternium pagar indemnizaciones por la adquisición de Usiminas, a pesar de las objeciones de las empresas.