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ArcelorMittal CEO: Everybody Analyzing ThyssenKrupp Brazil, US Plant Sale

By Alex MacDonald LONDON--The chief executive of ArcelorMittal (MT), the world's largest steelmaker, said all steelmakers are reviewing ThyssenKrupp AG's (TKA.XE) proposed sale of two steel plants in the Americas. "Everyone is looking at it, analyzing it, [trying to figure out] where are the synergies and what we should do," Lakshmi Mittal told journalists in a call. "Whether it is ArcelorMittal or any other steelmaker...I can tell you that everyone is doing the analysis." Mr. Mittal said that ArcelorMittal has already held talks at its office regarding Thyssen's proposed sale of its steel plant in Mobile, Ala., and its steel plant in the state of Rio de Janeiro, Brazil. He didn't say whether there was an interest in purchasing either of the steel plants. In mid-May, Germany's ThyssenKrupp said it was considering selling the mills or bringing in partners to sustainably improve performance. At the time, ThyssenKrupp Chief Executive Heinrich Hiesinger declined to provide a timeframe for a solution, citing the complexity of such transactions. But he said ThyssenKrupp had to act after the operations accumulated losses of around 500 million euros ($624) in the first six months of the company's business year. In fiscal 2011, the losses had amounted to around EUR1 billion. ThyssenKrupp has given the sale mandate to Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS). Write to Alex MacDonald at alex.macdonald@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Mittal Steel (MT)
DateTimeHeadline
05/04/201611:13:18Report of Foreign Issuer (6-k)
05/02/201613:57:34Report of Foreign Issuer (6-k)
04/26/201613:53:00Report of Foreign Issuer (6-k)
04/26/201612:15:00ArcelorMittal to Redeem $1.4 Billion in Notes due in 2017
04/25/201613:32:29Report of Foreign Issuer (6-k)
04/19/201610:40:07Report of Foreign Issuer (6-k)
04/18/201613:11:23Report of Foreign Issuer (6-k)
04/13/201618:26:00ADRs End Higher; Steelmakers, Mining Companies Rise
04/13/201611:04:00Global Steel Demand to Fall Further in 2016 - World Steel Association
04/13/201608:43:00Worldsteel Forecasts Global Steel Demand Will Contract Again...
04/12/201612:05:17Amended Statement of Beneficial Ownership (sc 13d/a)
04/11/201611:31:00ArcelorMittal Launches Tender to Buy Back up to $3.2 Billion...
04/11/201610:45:04Report of Foreign Issuer (6-k)
04/08/201611:05:34Report of Foreign Issuer (6-k)
04/07/201607:48:04Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
04/04/201617:27:12Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
04/04/201617:26:46Report of Foreign Issuer (6-k)
04/04/201610:59:08Report of Foreign Issuer (6-k)
04/04/201603:47:00ArcelorMittal Secures up to $1 Billion in Financing for its U.S...
04/01/201612:50:00Thyssenkrupp, Tata in Talks on Steel Tie-Up -- 3rd Update

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