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.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.