Luxembourg-headquartered steelmaker ArcelorMittal has signed a sale and purchase agreement to sell its operations in Bosnia and Herzegovina to Bosnia-based Pavgord Group. The transaction includes ArcelorMittal Zenica, an integrated steel plant, and ArcelorMittal Prijedor, an iron ore mining business that supplies the Zenica plant. The deal is expected to close in the third quarter of 2025.
Even though it had made considerable investments and efforts to retain both operations within the group, ArcelorMittal conducted a thorough strategic review before concluding that the sale represents the best solution for business development and employees. Operations will continue as usual until completion with full support from local and company leadership teams.
Under the agreement, all employees' jobs will transfer to the new owner. ArcelorMittal expects to record a non-cash loss of approximately $0.2 billion from the sale.
