ArcelorMittal S.A. / ArcelorMittal submits proposed divestment package to European Commission . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

13 April 2018 - ArcelorMittal ('the Company') announces that, as part of the ongoing European Commission ('EC') review into its acquisition of Ilva, it submitted a proposed divestment package to the EC to address concerns the EC has raised during its review. The proposed divestment package includes the following assets:

  • ArcelorMittal Piombino, the Company's only galvanised steel plant in Italy
  • ArcelorMittal Galati, Romania
  • ArcelorMittal Skopje, Macedonia
  • ArcelorMittal Ostrava, Czech Republic
  • ArcelorMittal Dudelange, Luxembourg
  • Hot dipped galvanising lines 4 and 5 in Flemalle; hot-rolled pickling, cold rolling and tin packaging lines in Tilleur, all of which are in Liège, Belgium.

The proposal to sell these assets remains subject to final review and approval by the EC as well as the conclusion of the information and consultation processes with local and European works councils. Any sales would be conditional upon completion of ArcelorMittal's acquisition of Ilva. The EC is expected to reach a final decision on the case by 23 May 2018.

ENDS

Important Information
This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to buy or to exchange any securities of ArcelorMittal. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of ArcelorMittal.

Forward-Looking Statements
This communication contains forward-looking information and statements about ArcelorMittal and its business after completion of the proposed transaction that have not been audited or independently verified. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations. Although the management of ArcelorMittal believe that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. The combined group may not realize the full benefits of the transaction.

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 2017, ArcelorMittal had revenues of $68.7 billion and crude steel production of 93.1 million metric tonnes, while own iron ore production reached 57.4 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 +442075431156
Americas +13128993985
Retail +442075431156
SRI +442075431156
Bonds/Credit +33171921026
   
   
Contact information ArcelorMittal Corporate Communications  
 

E-mail:
 

press@arcelormittal.com
Phone: +442076297988
   
   
ArcelorMittal Corporate Communications  
   
Paul Weigh +442032142419
Richard Farnsworth +447734776317
   



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ArcelorMittal S.A. via Globenewswire

--- End of Message ---

ArcelorMittal S.A.
Berkeley Square House; 7th Floor London UK

ISIN: LU1598757687;


ArcelorMittal (EU:MT)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024 Plus de graphiques de la Bourse ArcelorMittal
ArcelorMittal (EU:MT)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024 Plus de graphiques de la Bourse ArcelorMittal