The world's largest steelmaker ArcelorMittal has announced the increase of its stake in ArcelorMittal Inox Brasil S.A. (formerly Acesita S.A.) up from 57.34 percent to 97.67 percent after acquiring 30.0 million shares that were not yet owned by ArcelorMittal or any of its affiliates, for a total consideration of $1.66 billion in a delisting tender offer that was concluded on Friday.
ArcelorMittal expects the Brazilian markets regulator to confirm within the next two weeks the delisting of Inox Brasil.