Corus interested to takeover Arcelor stake in Lusosider

Corus interested to takeover Arcelor stake in Lusosider

Arcelor has recently decided to sell its 50% stake at the Portugese coating plant Lusosider and also signed a sales and purchase agreement with the Russian steelmaker Severstal. Meanwhile, Anglo-Dutch steel maker Corus, possessing the balance 50% stake of Lusosider, announced its decision to use its pre-emptive rights and indicated that it wishes to acquire Arcelor's stake of the company, itself. It appears that Arcelor will sell its stake to Corus, if the company confirms that it will exercise its first right of refusal. Under these circumstances, Corus might also buy Arcelor's 66.6% stake in Segal, another joint venture of the two companies, located in Belgium.