A plan by Arcelor Mittal to sell Canadian steel producer Dofasco to ThyssenKrupp of Germany has hit a stumbling block, the world's biggest steel group has said.
"Arcelor Mittal has been informed that the directors of the Strategic Steel Stichting, the Dutch foundation that holds the shares of Dofasco, decided on November 10 not to dissolve the foundation, which would have permitted the sale," Arcelor Mittal said Monday.
Arcelor bought Dofasco in January following a battle with ThyssenKrupp, but Mittal then struck a deal with the German group under which ThyssenKrupp would obtain Dofasco once Mittal had taken over Arcelor.
Link to Sale of Canadian steel group Dofasco hits obstacle - Yahoo! News
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