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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
08/02/201614:48:26Report of Foreign Issuer (6-k)
08/02/201611:12:09Report of Foreign Issuer (6-k)
08/01/201603:03:00Steelmaker Says Profit Surged In Quarter -- WSJ
07/29/201614:49:40Report of Foreign Issuer (6-k)
07/29/201612:57:00ArcelorMittal Earnings Beat Expectations -- 3rd Update
07/29/201609:51:00ArcelorMittal Earnings Beat Expectations -- 2nd Update
07/29/201604:26:00ArcelorMittal Earnings Beat Expectations -- Update
07/29/201603:10:00ArcelorMittal Posts Surge in Profit on Exceptional Item
07/29/201602:39:00ArcelorMittal Sees Minimal Brexit Impact on its Business
07/29/201602:01:00ArcelorMittal Posts Surge in Profit on Exceptional Item
07/28/201611:54:00Cliffs Natural Profit Fell Sharply but Beat Estimates
07/19/201611:22:47Report of Foreign Issuer (6-k)
07/13/201613:44:49Report of Foreign Issuer (6-k)
07/11/201613:10:00Germany's Thyssenkrupp Confirms Talks With Tata Steel
07/11/201613:07:00Germany's Thyssenkrupp Confirms Talks With Tata Steel Over Possible...
07/01/201611:01:00Acciaieria Arvedi-led Consortium Bids for Italy's Ilva Steel...
06/30/201612:10:00ArcelorMittal, Marcegaglia Offer to Buy Italy's Largest Steel...
06/30/201611:12:23Report of Foreign Issuer (6-k)
06/30/201608:41:00ArcelorMittal, Marcegaglia Offer to Buy Italy's Largest Steel...
06/28/201614:26:47Report of Foreign Issuer (6-k)

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