ArcelorMittal Expands Stake in Joint Venture

ArcelorMittal (MT) has released an update.

ArcelorMittal has agreed to purchase Nippon Steel Corporation’s 50% stake in the AM/NS Calvert joint venture as part of a strategic deal to alleviate regulatory concerns over Nippon Steel’s intended acquisition of US Steel. The transaction, which is contingent upon the successful completion of Nippon Steel’s acquisition, involves a nominal purchase price and additional financial adjustments totaling approximately $0.9 billion. ArcelorMittal’s investment in Calvert reinforces its position in supplying high-quality, low-emission steel solutions to demanding industries across North America.

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