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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Arcelor Mittal New | NYSE:MT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.05 | -0.19% | 26.02 | 26.37 | 26.13 | 26.32 | 1,449,631 | 01:00:00 |
From May 2019 to May 2024
By Cristina Roca
ArcelorMittal (MT.AE) said Monday that DryLog will buy a 50% stake in its shipping business and become its partner in a new 50-50 shipping joint venture.
The Amsterdam-listed steel and mining company said it has signed a purchase agreement with DryLog for the sale of 50% of Global Chartering Ltd., and that the sale should close before the end of 2019.
The joint venture will impact ArcelorMittal's net debt by $530 million, the company said, with $400 million on completion and the rest due in early 2020. The company said the deal is part of a drive to unlock up to $2 billion in value from its assets by the middle of 2021.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
December 23, 2019 02:48 ET (07:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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