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ArcelorMittal S.A. (ENXTAM:MT) completed the acquisition of Companhia Siderúrgica do Pecém from Vale S.A., POSCO Holdings Inc. and Dongkuk Steel Mill Company Limited for $2.2 billion.
ArcelorMittal S.A. (ENXTAM:MT) agreed to acquire Companhia Siderúrgica do Pecém from Vale S.A. (BOVESPA:VALE3), POSCO Holdings Inc. (KOSE:A005490) and Dongkuk Steel Mill Company Limited (KOSE:A001230) for an enterprise value of approximately $2.2 billion on July 28, 2022. On July 27, 2022, ArcelorMittal entered into a $2.2 billion bridge term facility agreement with a financial institution. The facility may be applied toward the purchase price for the intended acquisition of Companhia Siderúrgica do Pecém, as well as the refinancing of its existing indebtedness and the payment of related fees, costs and expenses. Transaction closing is subject to certain corporate and regulatory approvals, including CADE (Brazilian antitrust) approval which is expected by late 2022. As of January 16, 2023, the transaction is approved by CADE (Brazilian antitrust). As of November 23, 2022, the transaction is expected to close in the first quarter of 2023. The acquisition will generate significant synergies both in operational and financial terms.
Daniel Gunzburger, Guido Vinci, Celso Grisi and Jason P. Wagenmaker of Mayor Brown LLP acted as legal advisor to ArcelorMittal S.A. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Companhia Siderúrgica do Pecém.
ArcelorMittal S.A. (ENXTAM:MT) completed the acquisition of Companhia Siderúrgica do Pecém from Vale S.A. (BOVESPA:VALE3), POSCO Holdings Inc. (KOSE:A005490) and Dongkuk Steel Mill Company Limited (KOSE:A001230) for $2.2 billion on March 9, 2023. The purchase price was $2,194 million, which will be entirely used to prepay the outstanding net debt balance of approximately $2.3 billion.
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ArcelorMittal is No. 1 worldwide for steelmaking. Net sales break down by activity as follows:
- sale of carbon flat steel (56.6%): spools of hot and cold rolled laminated steel, coated sheets, etc.;
- sale of carbon long steel (20.7%): I-beams, concrete rounds, merchant steels, machine wire, saw wire, steel pilings, mass transit rails, special profiles, and wire drawing products;
- sale of tubular products (3.2%);
- sale of iron ore and coal (1.8%);
- other (17.7%): primarily steel processing, distribution and trading.
The group's products are primarily intended for the following sectors: automotive, household appliances, packaging and construction.
Net sales are distributed geographically as follows: Germany (9.6%), Poland (6.5%), France (6.8%), Spain (5.8%), Europe (23.7%), United States (13%), Americas ( 25.4%), Asia and Africa (9.2%).
More about the company
Last Close Price
25.35
USD
Average target price
34.2
USD
Spread / Average Target
+34.89%
Consensus
1st Jan change
Capi.
-7.50% 20.77B +0.79% 42.1B +18.89% 24.83B -21.02% 21.75B +13.50% 21.17B +6.81% 9.44B -12.44% 8.5B -23.08% 8.41B +36.31% 8.35B -.--% 7.47B
Other Steel
Stock Market Equities MT Stock
News ArcelorMittal ArcelorMittal S.A. (ENXTAM: MT) completed the acquisition of Companhia Siderúrgica do Pecém from Vale S.A., POSCO Holdings Inc. and Dongkuk Steel Mill Company Limited for $2.2 billion.
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