ArcelorMittal to Form 50-50 Shipping Joint Venture With DryLog
2019年12月23日 - 5:03PM
Dow Jones News
By Cristina Roca
ArcelorMittal (MT.AE) said Monday that DryLog will buy a 50%
stake in its shipping business and become its partner in a new
50-50 shipping joint venture.
The Amsterdam-listed steel and mining company said it has signed
a purchase agreement with DryLog for the sale of 50% of Global
Chartering Ltd., and that the sale should close before the end of
2019.
The joint venture will impact ArcelorMittal's net debt by $530
million, the company said, with $400 million on completion and the
rest due in early 2020. The company said the deal is part of a
drive to unlock up to $2 billion in value from its assets by the
middle of 2021.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
December 23, 2019 02:48 ET (07:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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