Arcelor may increase its shares in Acesita
Recent market news reports that
Luxembourg-based Arcelor may attempt to increase its shares in Brazilian steel firm Acesita by the end of this year.
Arcelor currently holds 27.68% stake in Acesita. However, Arcelor's stake in the Brazilian producer is expected to increase to 48.4% by the end of this year.
As reported by SteelOrbis back in June, Arcelor signed an agreement with Brazilian
iron ore giant Companhia
Vale do Rio Doce (CVRD) to increase its shares in Companhia Siderurgica de Tubarao (CST) from 28.02% to 61.77%.
It is stated that with these acquisitions, Arcelor expects its existence in carbon steel market to strengthen.