Global steel giant ArcelorMittal has announced that it has signed a sale and purchase agreement with Netherlands-based H.E.S. Beheer for the sale of ArcelorMittal's 78 percent stake in European port handling and logistics company ATIC Services S.A. (ATIC) to HES Beheer.
HES Beheer currently holds 22 percent in ATIC. This transaction would give HES Beheer 100 percent ownership of ATIC.
ArcelorMittal said that the transaction is consistent with its announced strategy of selective divestment of non-core assets. The transaction is subject to the customary closing conditions, including but not limited to competition clearance, and is expected to be completed in June of the current year.