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ArcelorMittal cuts shares in Turkish Erdemir
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Reportedly, the world’s steel giant ArcelorMittal said on this Tuesday that it planned to sell its US$134.3 million shares and the same number of warrants in Erdemir, the largest steelmaker in Turkey, in order to shift away from non-core activities and focus on cutting debt.
ArcelorMittal said that the selling will make its shares in Erdemir reduce to 18.7% from the current 25%. If all the warrants are exercised, its shares will be reduced to 12.5%.
News Date
3/28/2012 2:24:53 PM
reported by
Andy
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