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POSCO Consortium Eyes $1 Billion Stake From ArcelorMittal-Reuters
Reuters reported that A consortium including POSCO is seeking to acquire a roughly $1 billion stake in a Canadian iron ore mine operator controlled by ArcelorMittal South Korean financial publication Money Today reported. The bidding group seeks to acquire about a 10% stake in ArcelorMittal Mines Canada, with POSCO looking to invest $200-300 million and the rest coming from its partners, Money Today said. Morgan Stanley is advising POSCO, it said. A POSCO spokeswoman said the Company was studying the possibility of buying a stake in the operator, but nothing had been decided yet. ArcelorMittal is exploring the sale of a minority stake in its Canadian iron ore business.
Latest Developments for ArcelorMittal SA
- ArcelorMittal SA Appoints Bill Scotting as Chief Executive Officer
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- ArcelorMittal Completes Sale Of 15% Interest In Arcelormittal Mines Canada For $1.1 Billion To A Consortium Led By Posco And China Steel Corporation
- ArcelorMittal SA Confirms FY 2013 EBITDA Target and Issues Q2 2013 EBITDA Guidance
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