Brazil Steel Maker Gerdau To Buy Back 1.2 Million Shares
January 25 2010 - 9:47AM
Dow Jones News
The board of Brazilian long steel maker Gerdau (GGB, GGBR4.BR)
approved a share buyback program, the company said in a regulatory
filing on Monday
Gerdau plans to buy back up to 1.2 million preferred shares, or
about 0.2% of outstanding preferred shares. The buy back will take
place between Friday and Feb. 3, Gerdau said.
Gerdau shares closed Friday at 25.98 reals ($14.31). Brazilian
markets were closed Monday for a Sao Paulo state holiday.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085;
jeff.fick@dowjones.com
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