Batista Brothers Gain Foothold in Usiminas as CSN Sells Down Stake

The Batista brothers, Joesley and Wesley—famous for controlling JBS, one of the world’s largest meat companies—have recently taken a significant step outside their traditional sectors.

Through their investment company, Globe Investimentos, they acquired almost 5% of Usiminas, one of Brazil’s largest steel producers.

This move came after buying a chunk of shares previously owned by CSN (Companhia Siderúrgica Nacional), another major steel player in Brazil.

The transaction involved about 35 million ordinary shares and 27 million preferred shares of Usiminas, totalling a purchase value of roughly 263 million reais (about $53 million).

To understand why this matters, it helps to get some background. CSN and Usiminas have been rivals and entangled in legal and regulatory disputes for over a decade.

CSN has held a significant stake in Usiminas since 2011, which has raised concerns among Brazil’s competition watchdog (CADE) and the financial regulator (CVM) over potential market concentration.

CSN Cuts Usiminas Stake Amid Regulation

Regulatory authorities ordered CSN to gradually sell down its stake in Usiminas to below 5% to avoid too much power being concentrated with one competitor, which could harm competition and consumer choice.

Recently, to comply with these demands and avoid hefty fines (which could reach over 1 billion reais), CSN reduced its ownership in Usiminas from about 13% to 7.9%. The Globe Investimentos purchase—linked to the Batista family—was a key part of this forced reduction.

What’s striking is that the Batistas, known for their dominance in food and agribusiness, are now venturing into heavy industry, signalling a strategy to diversify into key sectors of Brazil’s economy.

Usiminas is vital for infrastructure and development, supplying steel for construction, manufacturing, and more. By gaining a foothold in this sector, the Batistas are not just investing—they’re positioning themselves as players in Brazil’s future growth and national projects.

Right now, there is no sign the Batistas aim to increase their stake further; their acquisition seems chiefly financial and for portfolio diversification.

However, the move could allow them more influence or options down the line, especially in a sector central to the country’s infrastructure.

Why should you care? This transaction isn’t just about who owns shares—it’s about the balance of power in strategic industries, the health of competition, and the direction of Brazil’s economic development.

When influential business families step into new sectors, it can reshape markets, affect prices and jobs, and even influence national policies.

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