CSN, the Brazilian steelmaker, confirmed in a presentation to investors this week that it has recevied a non-binding offer for the acquisition of its Germany-based longs mill Stahlwerk Thüringen (SWT).

The company explained that a non-binding offer was received in September, but did not give more details on the name of the interested party. Earlier this year, sources noted that a sale could be concluded in the short term, Kallanish notes.

CSN had already named the US bank Jefferies as the financial advisor for the sale of the European assets, which include the Portuguese coil re-rolling mill of Lusosider, together with SWT. Media reports have suggested that the divestments could bring in up to $1 billion for CSN.

The fact that the company has not indicated any offers received for Lusosider is triggering rumours that the asset has not attracted as much attention from potential buyers. The Portuguese arm is also suffering from a continuing strike at the local port of Setubal, which is impacting the activities of most of the industries located in the area.