ArcelorMittal To Sell Significant Portion Of $10 Billion In JVs, Assets
10 Maggio 2012 - 5:45PM
Dow Jones News
Steel titan ArcelorMittal (MT) expects to sell a significant
portion of its $10 billion in minority investments and joint
ventures in order to shore up its balance sheet.
Chief Financial Officer Aditya Mittal said that management is
looking at $10 billion in assets and joint ventures on its balance
sheet which could be sold off as a non-core assets in order to
reduce net debt and protect its credit rating.
"We expect that [a] significant portion of that would be
crystallized," Mittal told analysts in a call. He declined to
provide a specific dollar value for how much might be raised from
the sale of non-core assets.
Mittal, however, said there were a "few more [asset disposals]
in the pipeline to be announced in the second quarter" and said
that he expects net debt to fall below $22.5 billion by the end of
June.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Arcelor Mittal (NYSE:MT)
Storico
Da Lug 2023 a Lug 2024