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ARCELORMITTAL SOUTH AFRICA LIMITED - Finalisation of the sale of an indirect 50% interest in MacSteel International Holdings BV

Release Date: 05/11/2018 07:05
Code(s): ACL     PDF:  
 
Wrap Text
Finalisation of the sale of an indirect 50% interest in MacSteel International Holdings BV

ArcelorMittal South Africa Limited
(Incorporated in the Republic of South Africa)
(Registration Number 1989/002164/06)
Share Code: ACL
ISIN: ZAE000134961
(“ArcelorMittal South Africa” or “the Company”)

FINALISATION OF THE SALE BY THE COMPANY OF AN INDIRECT 50% INTEREST IN MACSTEEL
INTERNATIONAL HOLDINGS BV TO A SUBSIDIARY COMPANY OF MACSTEEL HOLDINGS
LUXEMBOURG SARL FOR CASH OF US$220 MILLION (“the Sale”)

Further to the announcement released on the Stock Exchange News Service on 27 September 2018
regarding the approval of the Sale at the General Meeting of ArcelorMittal South Africa shareholders
on 27 September 2018, shareholders are advised that the remaining conditions precedent have now
been fulfilled.

The parties have accordingly executed the final documents to finalise the Sale which includes the
payment of the purchase price of US$220 million (approximately R3 billion) and interest in
accordance with the relevant agreements.

This marks a significant milestone for the Company in achieving its objectives. As indicated the funds
will primarily be used to strengthen the balance sheet and fund the working capital requirements
and will support the Company in achieving its goal to be a sustainable and profitable Company.

5 November 2018
Vanderbijlpark Works

For further information please contact:
Ms Vuyo Mtawa

Group Manager: Corporate Communications
Tel: (016) 889 2352

Transaction Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

Continuing Sponsor
Absa Bank Limited (acting through its Corporate and Investment and Banking division)

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