According to local Spanish sources, Bilbao-based Basque Savings Bank (Bilbao Bizkaia Kutxa-BBK) has sold its minority stake in local hot rolled coil producer ArcelorMittal Sestao, previously known as Aceria Compacta de Bizkaia, to Luxembourg-based steel giant ArcelorMittal
BBK, as well as the venture capital fund Socade, which is the other shareholder in ArcelorMittal Sestao, had an option to sell their total holding of 20 percent to ArcelorMittal, during the period January 1 through April 15.
The terms of the transaction have not been disclosed.