ArcelorMittal’s deal for Laiwu stake falls apart
Dec 14, 2007 | 04:24 PM
| Rob Hartley
ArcelorMittal SA's plans to acquire a stake in China's Laiwu Steel Group have run aground.
The Luxembourg-based steelmaker and Laiwu Steel have terminated a share purchase contract signed in 2006 because the proposed deal hasn't received the required government approval, ArcelorMittal said.
The world's largest steelmaker planned to take a 38-percent stake in the Chinese company, but the contract has been delayed repeatedly since it was signed in February 2006 and won't be extended again after its next deadline at the end of this month.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.