Arcelor to sell 50 per cent stake to Segal a Corus group company

摘要

Arcelor S. A. world's largest steel producing company, is close to striking a deal with Segal s.c.r.l., a Belgian joint venture to Corus group plc for 50 per cent of its equity. Segal is a galvanizing operation, which toll processes the material of its shareholders. In 2002 end, the company's net asset amounted EUR 25.5 million. The two are learnt to be currently in an advanced stage of negotiations on settling the valuation issue. In 2002, Arcelor's annual production was approximately 44 million tonnes of steel with a turn over of 26.6 billion euros. Arcelor has settled with Corus to sell a 16.7 per cent share of its original 66.7 per cent in Segal to Corus. The proposed stake offering will be done through capital expansion. Moreover, after the finalisation of the deal, Arecelor and Corus both will possess equally 50 per cent of shares. However, the competent antitrusts authorities will do the formal approval of stake acquisition.