ArcelorMittal announces that it has entered into an agreement to divest
its 23.48% interest in Enovos International SA to a fund managed by AXA
Private Equity for a purchase price of EUR 330 million. This agreed
transaction is in line with the declared Group strategy of selective
divestment of non-core assets.
The purchase price is split with EUR 165 million payable at closing,
with the remaining portion deferred for up to two years. Interest will
accrue on the deferred portion. Closing of the transaction is subject to
customary closing conditions and is expected to occur prior to June 30,
AXA Private Equity is a diversified private equity firm with $28 billion
of assets managed or advised. The firm has an international reach with
nine offices in Paris, Frankfurt, London, New York, Singapore, Milan,
Zurich, Vienna and Luxembourg.
Enovos International was formed through the merger of three companies in
2009. As an independent energy company in the northern European market,
Enovos International’s mission is to procure, transmit and distribute
electricity, natural gas and renewable energies to municipal suppliers,
industry and private households.
The remaining shareholders in Enovos International are E-On (10.00%),
RWE (18.36%), Electrabel GDF Suez (4.71%), the Grand Duchy of Luxembourg
(25.44%), Société Nationale de Crédit et d’Investissement Luxembourg
(“SNCI”) (10.01%) and Ville de Luxembourg (8.00%).
ArcelorMittal is the world's leading steel and mining company, with a
presence in more than 60 countries.
ArcelorMittal is the leader in all major global carbon steel markets,
including automotive, construction, household appliances and packaging,
with leading R&D and technology. The Group also has a world class mining
business with a global portfolio of over 20 mines in operation and
development, and is the world’s 4th largest iron ore producer. With
operations in over 22 countries spanning four continents, the Company
covers all of the key industrial markets, from emerging to mature, and
has outstanding distribution networks.
Through its core values of sustainability, quality and leadership,
ArcelorMittal commits to operating in a responsible way with respect to
the health, safety and well-being of its employees, contractors and the
communities in which it operates. It is also committed to the
sustainable management of the environment. It takes a leading role in
the industry's efforts to develop breakthrough steelmaking technologies
and is actively researching and developing steel-based technologies and
solutions that contribute to combat climate change. ArcelorMittal is a
member of the FTSE4Good Index and the Dow Jones Sustainability World
In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel
production of 91.9 million tonnes, representing approximately 6 per cent
of world steel output. The Group's mining operations produced 54 million
tonnes of iron ore and 8 million tonnes of metallurgical coal.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal visit: www.arcelormittal.com