Boston, MA 10\/22\/2013 (wallstreetpr) – ArcelorMittal (ADR) (NYSE:MT), the largest steel maker in the world, has a market capitalization of about $28.36 billion. Over the past 30 days, it has been working on making a heavy deal with a host of smaller steel manufacturers. The overall impact of this busy and tight M & A activity has had a positive impact on the stock of\u00a0the company. The share has appreciated by close to 12.4%\u00a0in the past week and has increased by an impressive 25% in the last 90 days. It is very interesting to read about the list of sales and purchases agreements that have been signed by the steel maker.<\/p>\n
The company sold its 6.66% stake on October 8 in Turkey-based Erdemir.\u00a0From this deal, the company rose close to $267 million in cash. On the previous day, (on October 7) the company had signed off on a strategic agreement with Sider, the state-owned steel producer of Algeria. ArcelorMittal has made an agreement to bring its total holdings in the company to 49%, while its previous holding is 70%. According to the deal, Sider will increase its stake to 51% in the Annaba steel plant. The final objective of this deal is to raise the production by 2.2 million metric tons per year by taking in $763 million.<\/p>\n
To double the current production of steel, the target date has been set for 2017.\u00a0 The company had entered into preliminary talks with a company in South Africa earlier, on September 27, so as to resolve long pending pricing disputes.\u00a0Also, these two companies are trying to enter into a new ore supply agreement.<\/p>\n
The company is also trying to reduce its net debt from $16.2 billion to $15 billion using the income from the sale of property\u00a0by the end of this year.\u00a0The plight of the company is clearly visible as it is into hectic deal making.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/22\/2013 (wallstreetpr) – ArcelorMittal (ADR) (NYSE:MT), the largest steel maker in the world, has a market capitalization of about $28.36 billion. Over the […]<\/p>\n","protected":false},"author":32,"featured_media":10816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[252],"tags":[3587,3585,3588,3586],"stock_ticker":[],"class_list":["post-10815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-arcelormittal-adr","tag-arcelormittal-adr-nysemt","tag-mt","tag-nysemt","entry"],"acf":[],"yoast_head":"\n