Arcelor acquires CVRD stake in CST

Arcelor acquires CVRD stake in CST

According to recent news in the market, Luxembourg-based steel producer Arcelor SA has signed a deal with the Brazilian mining giant Companhia Vale do Rio Doce (CVRD) to acquire an indirect stake of the company in the Brazilian steel producer Companhia Siderurgica de Tubarao (CST). The deal has been concluded at Real 431.7 million ($162 million). With this deal, Arcelor bought around 21% voting stake in CST. Moreover, Arcelor also plans to launch an offer to buy all the outstanding CST shares.