Home > Investor Relations > ArcelorMittal acquisition of Arcelor Brasil complete (Brazil)

ArcelorMittal acquisition of Arcelor Brasil complete (Brazil)

Posted on September 21, 2007 by Stefan Schwarz

ArcelorMittal announced on September 12, 2007 that the acquisition of all outstanding shares in Arcelor Brasil has been completed. As a result hereof, ArcelorMittal now owns 100 per cent of Arcelor Brasil.

The 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 8 August. 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 (“TR”), in cash.

As of September 1, Arcelor Brasil has changed its name to ArcelorMittal Brasil.