Provider: New Constructs, LLC
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ArcelorMittal Announces Agreement To Divest Interest In Enovos International SA
ArcelorMittal announced that it has entered into an agreement to divest its 23.48% interest in Enovos International SA to a fund managed by AXA Private Equity for a purchase price of EUR330 million. The purchase price is split with EUR165 million payable at closing, with the remaining portion deferred for up to two years. Interest will accrue on the deferred portion. Closing of the transaction is subject to customary closing conditions and is expected to occur prior to June 30, 2012. The remaining shareholders in Enovos International are E-On (10.00%), RWE (18.36%), Electrabel GDF Suez (4.71%), the Grand Duchy of Luxembourg (25.44%), Société Nationale de Crédit et d’Investissement Luxembourg (SNCI) (10.01%) and Ville de Luxembourg (8.00%).
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