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ArcelorMittal Completes Acquisition of Arcelor Brasil

09/13/2007 - ArcelorMittal completes its acquisition of all outstanding shares in Arcelor Brasil.

ArcelorMittal announced that it has completed the acquisition of all outstanding shares in Arcelor Brasil. ArcelorMittal now owns 100% of Arcelor Brasil.
 
Redemption of the remaining 4,918,822 of shares outstanding (0.76% of total shares issued) was approved at a general meeting of Arcelor Brasil shareholders held on August 8. This redemption was the final step of a mandatory tender offer process. The redemption price was R$53.89 per share, the same as that of the mandatory tender offer, adjusted by the variation of the Taxa Referential, in cash.
 
As of September 1, Arcelor Brasil has changed its name to ArcelorMittal Brasil.
 
ArcelorMittal is the world's largest steel company, with 320,000 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 27 European, Asian, African and American countries exposes the company to all the 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 pro-forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10% of world steel output.