The company said that the redemption of the remaining 4.92 million (0.76 percent) outstanding shares, which was the final step of a mandatory offer process, was approved at the general meeting of Arcelor Brasil shareholders held on August 8.
ArcelorMittal has announced that it will pay Real 53.89 ($28.01) per share in cash and that Arcelor Brasil has changed its name to ArcelorMittal Brasil as of September, 1.