In today’s briefing:
- OCI Holdings Announces a Tender Offer to Buy 45% Stake in OCI Co
- Novelis – ESG Report – Lucror Analytics
- Usiminas – ESG Report – Lucror Analytics
OCI Holdings Announces a Tender Offer to Buy 45% Stake in OCI Co
- On 28 July, OCI Holdings (010060 KS) announced that it plans to conduct a tender offer to purchase up to 45% stake in OCI Co (456040 KS).
- The tender offer price of OCI Co is 139,000 won. The method of this tender offer is to issue new common shares of OCI Holdings.
- In the short term (one month), we expect OCI Co’s shares to outperform OCI Holdings shares. This deal is structured to mainly benefit the OCI Group’s insiders.
Novelis – ESG Report – Lucror Analytics
- Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
- We assess Novelis’ ESG as “Adequate”, in line with its Social and Governance scores. The company has a “Strong” score for the Environmental pillar. Controversies are “Immaterial” and Disclosure is “Adequate”.
- Novelis is the world’s largest producer of flat-rolled aluminium products and the largest recycler of aluminium globally.
Usiminas – ESG Report – Lucror Analytics
- Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
- We assess Usiminas’ ESG as “Adequate”, reflecting its “Adequate” scores for the Environmental, Social and Governance pillars. Controversies are “Immaterial” and Disclosure is “Strong”.
- Usinas Siderurgicas de Minas Gerais SA (Usiminas) is one of Brazil’s largest steel-makers. The company’s key flat-steel production and iron-ore mining business units together account for the bulk of consolidated EBITDA.
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