Gerdau S.A. (NYSE:GGB) is one of the mining stocks with the highest dividends.
On June 16, Gerdau S.A. (NYSE:GGB) reached an agreement to acquire Companhia Paranaense de Energia’s entire 23.03% equity stake in the Dona Francisca Energética hydro plant for an enterprise value of $29.6 million.
With the acquisition, the company gains full ownership of the plant in Rio Grande do Sul state, Brazil. The Dona Francisca hydroelectric power plant boasts an installed capacity of 125 MW and firm energy of 72.5 average MW.
Consequently, the acquisition is poised to strengthen Gerdau SA’s position in the energy market and increase its self-generation capacity by an average of 30.4 MW. Additionally, the acquisition is expected to positively impact Gerdau’s long-term growth and stability in electricity supply. The acquisition will also prepare the company for future growth in electricity demand.
Gerdau S.A. (NYSE:GGB) is a leading global steel producer and the largest recycler of ferrous scrap in Latin America. They transform millions of tons of recycled metals into long, specialized steel products used across the automotive, construction, agriculture, and energy industries.
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