Nippon Steel to sell 50% Calvert steel stake to ArcelorMittal, contingent on U.S. Steel acquisition.

Nippon Steel plans to sell its 50% stake in the Calvert steel plant in Alabama to ArcelorMittal, contingent on the successful acquisition of U.S. Steel. If the deal goes through, Nippon Steel expects a consolidated loss of approximately 230 billion yen (about $1.55 billion). Should the U.S. Steel acquisition fail, the sale will not occur, leaving earnings unaffected.

October 11, 2024
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