Friday, November 09, 2007

ArcelorMittal pays $647m for stake in Chinese Steel Company


ArcelorMittal, the world's biggest steel company, has expanded its presence in China by acquiring a minority stake in a steel mill in northern China for $647m. ArcelorMittal on Wednesday said it had bought a 28 per cent stake in Hong Kong-listed China Oriental Group, whose main asset is a mill in the northern Hebei province that produced 3.62m tonnes of steel last year.

ArcelorMittal pays $647m for Oriental stake Full Story

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