ArcelorMittal's bid to buy stake in Bosnian iron ore mine rejected [Reuters]
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Source: Reuters
ArcelorMittal's bid to buy stake in Bosnian iron ore mine rejected | Reuters 2 Min Read SARAJEVO (Reuters) - ArcelorMittal’s application to bid for the Bosnian government’s stake in the Ljubija iron ore mine has been rejected over procedural issues, prompting the world’s largest steelmaker to warn of risks to the future of mining in the area. ArcelorMittal ( MT.AS ) owns a steel plant in the central Bosnian town of Zenica where it processes iron ore from its mines in Prijedor in the north of the country. The government of Bosnia’s autonomous Serb Republic has a 64.9 percent stake in the nearby Ljubija ore mine, which has been put up for sale through the region’s bourse at a starting price of 69 million Bosnian marka ($40.3 million). Small investment funds own the remaining stake. ArcelorMittal Group expressed an interest in buying the government’s shares through its ArcelorMittal Holdings AG division, 51 percent owner of its local subsidiary ArcelorMittal Prijedor, which has exclusi
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- ArcelorMittal S.A. (NYSE: MT) had its "hold" rating re-affirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $31.00 price target on the stock, down previously from $34.00.MarketBeat
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- ArcelorMittal's Irina Gorbounova Joins CHAR Tech Board of Directors [Financial Post (Toronto, Ontario, Canada)]Financial Post
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