Arcelormittal Completes Transaction To Acquire Ilva S.P.A. And Launches Arcelormittal Italia
01 Noviembre 2018 - 12:30AM
Noticias Dow Jones
TIDMMT
1 November 2018 -- ArcelorMittal ('the Company') announces that AM
Investco Italy Srl ('AM Investco')'s transaction to acquire Ilva S.p.A.
('Ilva') has completed today.
ArcelorMittal is the principal partner in AM Investco with a 94.4 per
cent equity stake in the consortium, with Banca Intesa Sanpaolo holding
5.6 per cent. AM Investco's lease and purchase agreement is effective
from today (1 November 2018).
Following completion of the transaction, ArcelorMittal has now assumed
full management control of Ilva, which will form a new business cluster
within ArcelorMittal Europe - Flat Products and be known as
ArcelorMittal Italia.
Commenting, Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said:
"Closing the acquisition of Ilva is an important strategic step for
ArcelorMittal. Ilva is a quality asset that provides a unique
opportunity to expand and strengthen our European presence by acquiring
Europe's single-largest steelmaking site. It is a compelling value
creation opportunity for ArcelorMittal, that fits our objective of
selectively investing in growth projects where we can leverage our
operating expertise to grow Ebitda and free cash flow over the
long-term.
"We have a strong history of rehabilitating under-performing assets. I
am confident that we will prove successful in restoring Ilva's
operational, financial and environmental performance and, in doing so,
create value for our company, Ilva's stakeholders and the Italian
economy."
Aditya Mittal, Group President and CFO, and CEO, ArcelorMittal Europe,
added:
"It is a great pleasure to welcome Ilva to ArcelorMittal. We are excited
by Ilva's potential; it is a complementary fit with our existing flat
products business in Europe, provides significant scale and is
strategically well located. Combining this with our steelmaking
expertise, technological prowess, and the extensive investment
commitments we have made will enable us to positively transform Ilva's
performance.
"Our environmental, industrial and commercial business plans detail how
we will turnaround the Ilva business. The cornerstone of our investment
commitments is a EUR1.15 billion environmental investment programme.
Work has already begun, and, over time, I am confident we will deliver
on our vision of transforming Ilva into one of Europe's leading and
responsible steel manufacturers.
"Given Ilva's history it is also critical to rebuild trust with local
stakeholders through open and transparent dialogue and by demonstrating
to them the positive difference that our significant environmental
commitments will bring."
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a
presence in 60 countries and an industrial footprint in 18 countries.
Guided by a philosophy to produce safe, sustainable steel, we are the
leading supplier of quality steel in the major global steel markets
including automotive, construction, household appliances and packaging,
with world-class research and development and outstanding distribution
networks.
Through our core values of sustainability, quality and leadership, we
operate responsibly with respect to the health, safety and wellbeing of
our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern
world from railways to cars and washing machines. We are actively
researching and producing steel-based technologies and solutions that
make many of the products and components people use in their everyday
lives more energy efficient.
We are one of the world's five largest producers of iron ore and
metallurgical coal. With a geographically diversified portfolio of iron
ore and coal assets, we are strategically positioned to serve our
network of steel plants and the external global market. While our steel
operations are important customers, our supply to the external market is
increasing as we grow.
In 2017, ArcelorMittal had revenues of $68.7 billion and crude steel
production of 93.1 million metric tonnes, while own iron ore production
reached 57.4 million metric tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
Contact information ArcelorMittal
Investor Relations
Europe +44 20 7543 1156
Americas +1 312 899 3985
Retail +44 20 7543 1156
SRI +44 207543 1156
Bonds/Credit +33 171 921 026
Contact information ArcelorMittal
Corporate Communications
E-mail: mailto:press@arcelormittal.com press@arcelormittal.com
--------------------------------------------------------
Phone: +442076297988
ArcelorMittal Corporate
Communications
Paul Weigh +44 20 3214 2419
Richard Farnsworth +44 20 3214 2882
(END) Dow Jones Newswires
November 01, 2018 02:15 ET (06:15 GMT)
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