ArcelorMittal launches offer to acquire minority shareholding in ArcelorMittal Ostrava a.s.
Luxembourg, 11 June 2010 (16:00 CET) - The shareholders of ArcelorMittal Ostrava a.s. today agreed at an Extraordinary General Meeting in Ostrava that ArcelorMittal would acquire the 3.57% of the company's shares that it does not already own.
The price per share of 4,000 CZK offered by ArcelorMittal is based on an independent expert valuation of ArcelorMittal Ostrava a.s. conducted by PriceWaterhouseCoopers Ceska republika and was agreed to be fair by theBoard of Directors of ArcelorMittal Ostrava a.s. The total consideration for the minority share will be 1,769,648,000 CZK (approximately 82 million USD) and will be paid to the relevant shareholders later this year.
In January 2010, ArcelorMittal increased its stake in ArcelorMittal Ostrava a.s. to 96.43% thereby enabling it to exercise its right to acquire all outstanding shares in ArcelorMittal Ostrava a.s., as provided under the Czech Commercial Code.
About ArcelorMittal
ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.
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 asignificant 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 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tonnes, representing approximately 8 per cent of world steel output.
No comments:
Post a Comment