Marubeni-Itochu Steel Inc. (hereinafter “MISI”), a worldwide leading Japanese steel trading and processing company, has signed on July 22, 2024, an strategic agreement with Network Steel Resources, S.A. (“NSR”) to enter in its capital through a minority stake.
NSR is a leading independent flat steel group in the Iberian Peninsula, the Company counts with 7 modern production plants and an annual sales volume of more than 1 million tons.
MISI is a Joint Venture between the Japanese Trading Houses Marubeni Corporation (listed company in Tokyo, with a market capitalization of more than 27,000 million euros) and Itochu Corporation (listed company in Tokyo with a market capitalization of more than 57,000 million euros), which reports a sales volume close to 24,000 million euros and owns more than 100 companies across multiple geographies globally.
This transaction consolidates the commercial partnership between NSR and MISI, companies that have a close collaborative relationship and now formalize it through this strategic agreement. MISI’s entry into NSR’s shareholding is motivated by a joint project to achieve a new stage of growth, driven by a diversification of products, markets, creation of synergies and know-how shared by both groups.
On NSR’s side, the transaction has been advised by DC Advisory (investment bank part of the Japanese group Daiwa Securities) and Uría Menéndez. Cuatrecasas acted as legal advisor to MISI.
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