Arcelormittal Completes Sale Of Several European Steelmaking Assets To Liberty House Group

Date : 07/01/2019 @ 6:30AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 15.334  0.89 (6.16%) @ 3:00PM
ArcelorMittal share price Chart

Arcelormittal Completes Sale Of Several European Steelmaking Assets To Liberty House Group

Arcelor Mittal (NYSE:MT)
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TIDMMT 
 
   1 July 2019, 08:00 CET 
 
   ArcelorMittal ('the Company') announces that yesterday it completed the 
sale to Liberty House Group ('Liberty') of several steelmaking assets 
that form the divestment package the Company agreed with the European 
Commission ('EC') during its merger control investigation into the 
Company's acquisition of Ilva S.p.A. 
 
   Assets included within the divestment package are: ArcelorMittal Ostrava 
(Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje 
(Macedonia), ArcelorMittal Piombino (Italy), ArcelorMittal Dudelange 
(Luxembourg) and several finishing lines at ArcelorMittal Liège 
(Belgium). 
 
   The total net consideration for the assets payable to ArcelorMittal is 
EUR740 million. EUR610 million was received on 28 June. The Company is 
required to deposit EUR110 million in escrow to be used by Liberty for 
certain capital expenditure projects as part of the EC approval process. 
 
 
   ENDS 
 
   About ArcelorMittal 
 
   ArcelorMittal is the world's leading steel and mining company, with a 
presence in 60 countries and an industrial footprint in 18 countries. 
Guided by a philosophy to produce safe, sustainable steel, we are the 
leading supplier of quality steel in the major global steel markets 
including automotive, construction, household appliances and packaging, 
with world-class research and development and outstanding distribution 
networks. 
 
   Through our core values of sustainability, quality and leadership, we 
operate responsibly with respect to the health, safety and wellbeing of 
our employees, contractors and the communities in which we operate. 
 
   For us, steel is the fabric of life, as it is at the heart of the modern 
world from railways to cars and washing machines. We are actively 
researching and producing steel-based technologies and solutions that 
make many of the products and components people use in their everyday 
lives more energy efficient. 
 
   We are one of the world's five largest producers of iron ore and 
metallurgical coal. With a geographically diversified portfolio of iron 
ore and coal assets, we are strategically positioned to serve our 
network of steel plants and the external global market. While our steel 
operations are important customers, our supply to the external market is 
increasing as we grow. 
 
   In 2018, ArcelorMittal had revenues of $76.0 billion and crude steel 
production of 92.5 million metric tonnes, while own iron ore production 
reached 58.5 million metric tonnes. 
 
   ArcelorMittal is listed on the stock exchanges of New York (MT), 
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock 
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). 
 
   For more information about ArcelorMittal please visit: 
http://corporate.arcelormittal.com/ 
 
 
 
 
 
Contact information ArcelorMittal 
 Investor Relations 
 
Europe                                                   +44 20 7543 1156 
Americas                                                  +1 312 899 3985 
Retail                                                   +44 20 7543 1156 
SRI                                                       +44 207543 1156 
Bonds/Credit                                              +33 171 921 026 
 
 
Contact information ArcelorMittal 
 Corporate Communications 
 
                                           mailto:press@arcelormittal.com 
  E-mail:                                         press@arcelormittal.com 
                                         -------------------------------- 
Phone:                                                      +442076297988 
 
 
ArcelorMittal Corporate Communications 
 
Paul Weigh                                               +44 20 3214 2419 
 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

July 01, 2019 02:15 ET (06:15 GMT)

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