ArcelorMittal South Africa Ltd. (ACL.JO), Africa's largest producer of steel, said Thursday it is still working toward its proposed black economic empowerment deal to sell a stake to black investors in the country.

MAIN FACTS:

- ArcelorMittal South Africa said its consideration of matters relevant to the transaction is ongoing, and satisfaction of the conditions precedent remain outstanding.

- Shareholders are advised to continue exercising caution when dealing in ArcelorMittal South Africa securities, until a further announcement is made.

- ArcelorMittal South Africa on Aug. 10 informed shareholders it had entered into a subscription and shareholders' agreement to give effect to the BEE transaction.

-By Johannesburg bureau, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com
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