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MTS - ArcelorMittal SA News Story

€29.37 -0.3  -0.8%

Last Trade - 30/07/21

Sector
Basic Materials
Size
Large Cap
Market Cap £27.28bn
Enterprise Value £32.92bn
Revenue £39.12bn
Position in Universe 11th / 730

BRIEF-ArcelorMittal Sells Remaining Cleveland-Cliffs Common Stock

Fri 18th June, 2021 7:12am
June 18 (Reuters) - ArcelorMittal SA  MT.LU :
    * ARCELORMITTAL ANNOUNCES SALE OF CLEVELAND-CLIFFS COMMON
STOCK
WITH THE PROCEEDS TO BE RETURNED TO SHAREHOLDERS VIA A $750
MILLION SHARE BUYBACK
    * CONCLUSION OF SALE OF ITS REMAINING 38.2 MILLION COMMON
SHARES
IN CLEVELAND-CLIFFS INC.
    * VALUE CRYSTALIZED FROM THIS SALE OF WILL BE RETURNED TO
SHAREHOLDERS VIA A NEW $750 MILLION SHARE BUYBACK PROGRAM OF
ARCELORMITTAL COMMON SHARES
    * NEW SHARE BUYBACK PROGRAM WILL COMMENCE IMMEDIATELY AND
FOLLOWS
PREVIOUS BUYBACK PROGRAM WHICH IS NOW COMPLETE
    * DISPOSAL OF REMAINING COMMON SHARES IN CLEVELAND CLIFFS
BRINGS
TOTAL CASH PROCEEDS FROM SALE OF ARCELORMITTAL USA TO $1.9
BILLION SO FAR
    * ARCELORMITTAL NORTH AMERICA HOLDINGS LLC CONTINUES TO HOLD
NON-VOTING PREFERRED STOCK REDEEMABLE AT CLEVELAND-CLIFFS'
OPTION

Source text for Eikon:  ID:nGNX8jPCRd 
Further company coverage:  MT.LU 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))
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