Finally Arcelormittal and Nippon Steel & Sumitomo Metal Corp agreed to buy US steel giant ThyssenKrupp’s steel plant for $1.55 billion.
Confirming the news on Friday, ArcelorMittal said that jointly theu will raise the transaction amount through a combination of equity and debt. They will also capitulate $60 million of annual savings.
The mutually beneficial deal will also allow both the companies to purchase 2 million tonnes of steel slab per year from ThyssenKrupp’s CSA steel mill in Brazil for next six-years.
Tags: Arcelormittal Nippon Steel & Sumitomo Metal Corp ThyssenKrupp's steel plant