Regulatory News:
ArcelorMittal today confirms that the Court appoined divestiture trustee has entered into an agreement to sell ArcelorMittal's Sparrows Point steel mill to OAO Severstal for US$810 million, net of debt.
Joseph G. Krauss, the divestiture trustee, was required to seek the sale of the mill by a consent decree entered on May 23, 2007 in the United States District Court for the District of Columbia in order to comply with an anti-trust ruling concerning the approval of the merger between Mittal Steel and Arcelor SA in 2006.
Sparrows Point had EBITDA of US$25 million in 2007.
The sale is subject to customary closing conditions, including approval by the United States Department of Justice, and is expected to close in the second quarter of 2008.
About ArcelorMittal
ArcelorMittal is the world's largest and most global steel company, with 310,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.
ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 28 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
ArcelorMittal key unaudited financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Contacts:
Europe, +352 4792 2414
Americas,
+1 312 899 3569
Retail, +352 4792 2434
SRI, +44 203 214 2854
Bonds/Credit,
+33 1 71 92 10 26
or
ArcelorMittal Communications
press@arcelormittal.com
+352
4792 5000
or
ArcelorMittal Corporate Communications
Haroon
Hassan, +44 20 3214 2867
Jean Lasar, +352 4792 2359
or
Maitland
Consultancy:
Lydia Pretzlik / Martin Leeburn, + 44 20 7379 5151
or
Belgium
Comfi
Charles-Hubert
Gernaert, +32 2 290 90 90
or
North America
Bill
Steers, +1 312 899 3817
or
Netherlands
Smink,
Van der Ploeg & Jongsma
Leon Melens, +31 20 647 81 81
or
Germany
Herring
Schuppener
Phoebe Kebbel, +49 69 92 18 74 77
or
France
Image
7
Anne France Malrieu/Tiphaine Hecketsweiler,
+33 1 5370
7470
or
Spain
Ignacio Agreda, +34 94 489 4162
Oscar
Fleites, +34 98 512 60 29
Keith Grant, +34 639 760 397
