Prior to the agreement in question, ArcelorMittal had acquired 69 percent of the Polish company in March 2004. Under the terms of the initial agreement, the company had been granted the option to purchase a further 25 percent of shares from the Polish state treasury at a future date.
ArcelorMittal to acquire more shares in ArcelorMittal Poland
The world's largest steel group ArcelorMittal has reached an agreement with the Polish government on the acquisition of a further 25.2 percent of shares in ArcelorMittal Poland. Accordingly, ArcelorMittal is to acquire each share at a price of PLN 6.5 ($2.3) from the Polish state and the total worth of the agreement will be PLN 436 million (approx. $157 million).