This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ArcelorMittal Luxembourg Enters Into Agreement To Divest Its Interest In Enovos International SA

Regulatory News:

ArcelorMittal announces that it has entered into an agreement to divest its 23.48% interest in Enovos International SA to a fund managed by AXA Private Equity for a purchase price of EUR 330 million. This agreed transaction is in line with the declared Group strategy of selective divestment of non-core assets.

The purchase price is split with EUR 165 million payable at closing, with the remaining portion deferred for up to two years. Interest will accrue on the deferred portion. Closing of the transaction is subject to customary closing conditions and is expected to occur prior to June 30, 2012.

AXA Private Equity is a diversified private equity firm with $28 billion of assets managed or advised. The firm has an international reach with nine offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich, Vienna and Luxembourg.

Enovos International was formed through the merger of three companies in 2009. As an independent energy company in the northern European market, Enovos International’s mission is to procure, transmit and distribute electricity, natural gas and renewable energies to municipal suppliers, industry and private households.

The remaining shareholders in Enovos International are E-On (10.00%), RWE (18.36%), Electrabel GDF Suez (4.71%), the Grand Duchy of Luxembourg (25.44%), Société Nationale de Crédit et d’Investissement Luxembourg (“SNCI”) (10.01%) and Ville de Luxembourg (8.00%).

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).

For more information about ArcelorMittal visit: www.arcelormittal.com



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,031.13 -49.01 -0.27%
S&P 500 2,109.67 -8.02 -0.38%
NASDAQ 5,057.5940 -34.4910 -0.68%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs