ArcelorMittal to top Brazil's long steel output after Votorantim deal: executive 4:26pm EST [Reuters]
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Source: Reuters
ArcelorMittal to top Brazil's long steel output after Votorantim deal: executive | Reuters 3 Min Read SAO PAULO/BRASILIA (Reuters) - The Brazilian unit of ArcelorMittal expects to conclude in the second quarter the takeover of rival Votorantim Siderurgia SA to become the country’s largest long steel producer, a senior company executive said. Jefferson de Paula, ArcelorMittal executive vice president, said in a phone interview on Wednesday that ArcelorMittal’s long steel capacity in Brazil would reach up to 6 million tonnes per year after the tie-up. Arcelor expects to conclude by April the asset sales demanded by the country’s antitrust watchdog Cade to approve the takeover, Paula added. Then Arcelor could proceed and conclude the Votorantim deal during the second quarter. The executive said Arcelor is in advanced talks to sell two groups of assets to two different buyers. He declined to name the potential buyers and specific assets, citing a non-disclosure agreement. Earlier on Wedne
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