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ArcelorMittal: disposal of 50% of GCL to DryLog
(CercleFinance.com) - ArcelorMittal announces a deal with DryLog for the sale of a 50% stake in Global Chartering Limited (GCL), its sea transport subsidiary which will become a 50-50 joint venture.
The deal is to be finalised by the end of 2019. Currently operating 28 dry load vessels, this joint venture will benefit from the expertise and knowledge of the two partners, as well as the annual transport commitments of the steelmaking giant. The deal will ease ArcelorMittal's net debt burden by 530 million dollars and is part of its plan to unlock up to two billion dollars in value from its asset portfolio by mid-2021. Copyright (c) 2019 CercleFinance.com. All rights reserved. |
19/04/2024 18:06
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