Mittal Steel Co. NV has acquired a further 41% stake in Mittal Steel Zenica from the Kuwaiti Investment Agency for US$98 million.

This follows Mittal Steel’s acquisition of 51% of the company (then BH Steel) from the Government of the Federation of Bosnia-Herzegovina and the Kuwaiti Investment Agency in August 2004.

As a result of the transaction, Mittal Steel now has a 92% shareholding in Mittal Steel Zenica. The remaining 8% is held by the Government of the Federation of Bosnia-Herzegovina.

Mittal Steel Co. is the world’s largest and most global steel company with operations in sixteen countries, on four continents. Mittal Steel encompasses all aspects of modern steelmaking, to produce a comprehensive portfolio of both flat and long steel products to meet a wide range of customer needs. It serves all the major steel consuming sectors, including automotive, appliance, machinery and construction. For 2004, Mittal Steel had revenues of US$22.2 billion and steel shipments of 42.1 million tonnes.