Luxembourg, 12 November 2009 - ArcelorMittal today announces that it has signed an agreement to acquire a 13.881% stake in ArcelorMittal Ostrava, a.s. from a subsidiary of PPF GROUP N.V., an international financial and investment group in Central and Eastern Europe, for CZK 6,879,524,000 (approximately $US 404.3 million).
This values ArcelorMittal Ostrava, a.s. at an Enterprise Value of approximately $US 264 per tonne of liquid steel capacity. The final payment will be made in 2010.
ArcelorMittal will thus increase its stake in ArcelorMittal Ostrava, a.s. to approximately 96.4% and PPF GROUP N.V. will step out of the Czech steelmaker’s shareholding structure. This agreement is consistent with ArcelorMittal’s commitment to continue as one of the largest foreign investors in the Czech Republic.
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.
Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a
significant responsibility to tackle the global climate change challenge; it takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change. In 2008, ArcelorMittal had revenues of $124.9 billion and crude steel production of 103.3 million tonnes, representing approximately 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).