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ArcelorMittal Announces Final Price for ArcelorMittal Inox Brasil Offer

04/03/2008 - ArcelorMittal has confirmed that the final price of its delisting tender offer for all shares of Arcelor Mittal Inox Brasil SA will be R$ 95.25 per common share and R$ 94.70 per preferred share, as per the previously disclosed pricing mechanism.

ArcelorMittal has confirmed that the final price of its delisting tender offer for all shares of Arcelor Mittal Inox Brasil S.A. (previously known as Acesita SA) will be R$ 95.25 per common share and R$ 94.70 per preferred share, as per the pricing mechanism previously disclosed in the relevant Offer documents.
 
This value corresponds to the price of R$ 100.00 per common share and R$ 100.00 per preferred share, after the subtraction of interest on equity, declared on December 19, 2007, and interim dividends, declared on March 14, 2008, and the adjustment by the Referential Rate – TR plus 6% per year, starting February 28th, 2008 through to the Offer auction date (April 4, 2008). At the current exchange rate, this transaction could represent a cash disbursement of up to around US$1.71 billion.
 
The company noted that this announcement does not constitute an offer to acquire company securities in any jurisdiction.
 
ArcelorMittal is the world's largest and most global steel company, with 310,000 employees in more than 60 countries. The company leads a number of major global 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. An industrial presence in 28 European, Asian, African and American countries exposes the company to a number of key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
 
ArcelorMittal’s key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10% of world steel output.