ArcelorMittal SA Completes First Part of Interest Sale in Canadian Joint Venture-DJ

Friday, 15 Mar 2013 11:13am EDT 

Dow Jones reported that ArcelorMittal SA announced that it has completed the first part of sale of its 15% stake in the Canadian joint venture ArcelorMittal Labrador Trough. The value of the first part amounts up to USD 800 million for the interest of 11.05%. The Company is to receive USD 1.1 billion in total for the sale of 15% stake in joint venture led by POSCO and China Steel Corp. ArcelorMittal Mines Canada will hold an 85% interest in the joint venture. The second part of the sale will take place in the second quarter of the 2013. 

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