LUXEMBOURG (dpa-AFX) - Steel and mining company, ArcelorMittal (MT), Friday announced that it has completed sale of its Kazakh steel and mining operation, ArcelorMittal Temirtau to Qazaqstan Investment Corporation, a state controlled direct investment fund.
ArcelorMittal received $286 million in consideration, and $250 million as repayment of outstanding debt. Also, it will receive an additional sovereign-fund guaranteed payment of $450 million, as repayment of loan, in four equal instalments.
In pre-market activity, ArcelorMittal's stocks are trading at $25.78, up 1.02%, whereas it closed at $25.52, up 1.15% on Thursday.
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