Arcelor increases Belgo-Mineira stake
Luxembourg-based steel producer Arcelor announced that it increased its share in Brazilian steel producer Belgo-Mineira by purchasing Banco Bradesco's 4.45% stake in the Brazilian steelmaker.
It is not clear whether Arcelor was the single buyer of the shares of Banco Bredesco; however, Arcelor's shares in the Brazilian producer rose to 58.5% through the acquisition of the shares. Branco Bradesco was the second largest shareholder before the transfer.
Moreover, Arcelor reportedly singed agreements with Japanese shareholders and California Steel to acquire these two groups' stakes in another Brazilian steel producer, Companhia Siderurgica de Tubarao (CST).