ArcelorMittal is to dispose of its US operations (ex Calvert) to Cleveland-Cliffs through a share and cash deal. The divestiture of AM US makes sense in our view from a strategic point of view. It also further strengthens the group’s balance sheet, the group having reached its deleveraging targets. US$500m will returned to shareholders thourgh a share buy-back.
28 Sep 2020
Disposal of ArcelorMittal USA
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Disposal of ArcelorMittal USA
ArcelorMittal is to dispose of its US operations (ex Calvert) to Cleveland-Cliffs through a share and cash deal. The divestiture of AM US makes sense in our view from a strategic point of view. It also further strengthens the group’s balance sheet, the group having reached its deleveraging targets. US$500m will returned to shareholders thourgh a share buy-back.