Wednesday, March 28, 2012

ArcelorMittal successfully completes an accelerated bookbuilt offering of 134,317,503 Shares and Warrants in respect of a further 134,317,503 Shares in Ereğli Demir ve Çelik Fabrikaları T.A.Ş.

Luxembourg, 28 March 2012 - ArcelorMittal announces that it has successfully completed an offering (through certain subsidiaries) of 134,317,503 shares (the “Shares”) and warrants in respect of a further 134,317,503 Shares (the “Warrants”) in Ereğli Demir ve Çelik Fabrikaları T.A.Ş. (“Erdemir”) generating total proceeds of TRY 478,170,311, by way of a single accelerated bookbuilt offering to institutional investors (the “Transaction”).

Following the Transaction, ArcelorMittal holds approximately 18.7% of Erdemir’s share capital, which would decline to approximately 12.5% if all of the Warrants are exercised. ArcelorMittal has agreed to a 365 day lock-up period on its remaining stake in Erdemir.

For every three Shares purchased, investors will receive one Series A Warrant maturing on 2 July 2012 with an Exercise Price of TRY 3.738, one Series B Warrant maturing on 1 October 2012 with an Exercise Price of TRY 3.916 and one Series C Warrant maturing on 14 December 2012 with an Exercise Price of TRY 4.094.

A total of 44,772,501 Series A Warrants, 44,772,501 Series B Warrants and 44,772,501 Series C Warrants will be issued, each of which is exercisable into a corresponding number of Erdemir Shares. Settlement of the Shares is expected to occur on 30 March 2012 and settlement of the Warrants is expected to occur on 2 April 2012.

Application will be made to admit the Warrants to trading on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange.

Bookbuilding was managed by Goldman Sachs International acting as Sole Bookrunner.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60 countries. ArcelorMittal is the leader in all major global carbon steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology. The Group also has a world class mining business with a global portfolio of over 20 mines in operation and development, and is the world’s 4th largest iron ore producer. With operations in over 22 countries spanning four continents, the Company covers all of the key industrial markets, from emerging to mature, and has outstanding distribution networks.

Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. 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. ArcelorMittal is a member of the FTSE4Good Index and the Dow Jones Sustainability World Index.

In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel production of 91.9 million tonnes, representing approximately 6 per cent of world steel output. The Group's mining operations produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.

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).

No comments: