ArcelorMittal signs deal for sale of 50% shipping biz stake to pare debt

摘要

ArcelorMittal, the world’s largest steelmaker, has signed a share purchase agreement with DryLog for the sale of 50 per cent stake in Global Chartering, the steel major’s wholly-owned shipping business. This is part of its commitment to unlock up to $2 billion from its asset portfolio by the middle of 2021. Subsequently, a 50:50 shipping joint venture will be formed with DryLog.