ArcelorMittal to take 28 per cent stake in China Oriental Group
ArcelorMittal, the world's largest steel producer, would invest $647 million to take a 28 per cent stake in Chinese steelmaker China Oriental.
By Agencies |
PARIS: ArcelorMittal, the world's largest steel producer, said Wednesday it would invest $647 million (445 million euros) to take a 28 per cent stake in Chinese steelmaker China Oriental.
The transaction will make ArcelorMittal the second largest shareholder in the China Oriental, which last year had sales of $1.313 billion and operating earnings of $225 million.
It sold 3.75 million tonnes of steel products in 2006.
The transaction will make ArcelorMittal the second largest shareholder in the China Oriental, which last year had sales of $1.313 billion and operating earnings of $225 million.
It sold 3.75 million tonnes of steel products in 2006.
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