ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion
FRANKFURT (Reuters) - Arcelormittal (ISPA.AS) and Nippon Steel & Sumitomo Metal Corp (5401.T) agreed to buy ThyssenKrupp's (TKAG.DE) steel plant in the United States for $1.55 billion, ArcelorMittal said late on Friday.
The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings, it said.
The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp's CSA steel mill in Brazil.
- Private equity firm KKR & Co LP plans to allow investors to sell parts of their stake in buyout funds through a new private market run by Nasdaq OMX Group Inc , the Wall Street Journal reported on Thursday, citing people familiar with the matter.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.