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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Fnb Holdingsnm | LSE:2002 | London | Ordinary Share | NA0003475176 | FNB HOLDINGS LTD NM |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
By Alex MacDonald
LONDON--Steel titan ArcelorMittal (MT) said Friday that it completed the first installment of a 15% stake sale in its ArcelorMittal Mines Canada joint venture.
ArcelorMittal agreed to sell the total stake in AMMC to a consortium led by South Korean steelmaker Posco (005490.SE,PKX) and China Steel Corp. in January for $1.1 billion.
On Friday, ArcelorMittal said it had sold an 11.05% stake in the joint venture to the consortium for $810 million.
The remaining 3.95% stake sale will be completed in the second quarter of 2013, the company added.
As part of the sale, the AMMC joint venture has entered into off-take agreements with POSCO and CSC proportionate to the consortium's interest in the joint venture.
ArcelorMittal is currently completing a $1.4 billion expansion of AMMC to 24 million metric tons of iron ore output a year from 16 million tons. The expansion is due to be completed in the first half of this year.
ArcelorMittal's Chief Executive Lakshmi Mittal, speaking at an investor day presentation Friday, declined to comment on whether ArcelorMittal would be interested in purchasing Rio Tinto PLC's (RIO) 59% stake in Iron Ore of Canada Co., which Liberum has valued at $3.4 billion based on ArcelorMittal's 15% stake sale of AMMC.
Write to Alex MacDonald at alex.macdonald@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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