Bekaert sells its steel business in Chile and Peru

Belgian multinational steelmaker Bekaert has announced the sale of its steel wire operations in Chile and Peru to its current partners. This transaction, worth approximately $350 million and netting the company $136 million, is expected to close this year.

Bekaert currently owns 52% of the shares of Chilean enterprises and 38% of Peruvian ones. The proceeds from this transaction will strengthen Bekaert's balance sheet and support investment plans for further growth.