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BRIEF-Acerinox Increases Its Stake In Bahru Stainless To 97 Pct

Dec 21 (Reuters) - Acerinox SA:

* SAID ON THURSDAY NISSHIN STEEL CO. LTD, OWNED IN 1 PERCENT BY ACERINOX, WILL SOON CEASE TO BE LISTED ON TOKYO STOCK EXCHANGE FOLLOWING ITS TAKEOVER BY NIPPON STEEL & SUMITOMO METAL CORPORATION

* SHARES HELD BY CO IN NISSHIN STEEL WILL BE EXCHANGED FOR SHARES OF ACQUIRING ENTITY ON BASIS OF 0.71 SHARES IN NIPPON STEEL & SUMITOMO METAL FOR EACH NISSHIN STEEL SHARE

* SAYS WILL RECEIVE 747,346 SHARES IN NIPPON STEEL & SUMITOMO METAL

* ACCORDING TO OPTION UNDER JOINT VENTURE AGREEMENT DATED 2009, BETWEEN NISSHIN STEEL AND ACERINOX, ACERINOX ACQUIRED 30 PERCENT SHAREHOLDING OF BAHRU STAINLESS SDN. BHD PREVIOUSLY HELD BY NISSHIN STEEL FOR $11.9 MILLION

* ACQUISITION INCREASES SHAREHOLDING OF ACERINOX IN BAHRU STAINLESS SDN. BHD TO 97 PERCENT

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Further company coverage: (Gdynia Newsroom)