PARIS, June 4: Global steel giant Arcelor Mittal said on Monday it had launched an offer for the minority shares in Arcelor Brazil priced at 21.10 euros a share, adding another 4.5 billion euros to the value of Mittal Steel’s acquisition last year of European group Arcelor.
The results of its bid, equivalent to 53.89 Brazilian reals or $28, will be announced later in the day after the close of trading on the Brazilian stock market, Arcelor Mittal said in a statement here.
The group is seeking to acquire 213.7m minority shares, or 37pc of the capital of Arcelor Brazil.At the offered price, the operation will add about 4.5 billion euros to the 27 billion euros already spent by Mittal Steel to buy Arcelor in June 2006.—AFP
