ArcelorMittal to Form 50-50 Shipping Joint Venture With DryLog

Date : 12/23/2019 @ 8:03AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 14.07  0.08 (0.57%) @ 11:48AM
ArcelorMittal share price Chart

ArcelorMittal to Form 50-50 Shipping Joint Venture With DryLog

ArcelorMittal (EU:MT)
Historical Stock Chart

3 Months : From Nov 2019 to Feb 2020

Click Here for more ArcelorMittal Charts.
   By Cristina Roca 

ArcelorMittal (MT.AE) said Monday that DryLog will buy a 50% stake in its shipping business and become its partner in a new 50-50 shipping joint venture.

The Amsterdam-listed steel and mining company said it has signed a purchase agreement with DryLog for the sale of 50% of Global Chartering Ltd., and that the sale should close before the end of 2019.

The joint venture will impact ArcelorMittal's net debt by $530 million, the company said, with $400 million on completion and the rest due in early 2020. The company said the deal is part of a drive to unlock up to $2 billion in value from its assets by the middle of 2021.


Write to Cristina Roca at


(END) Dow Jones Newswires

December 23, 2019 02:48 ET (07:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20200225 12:03:11