ArcelorMittal S.A. (ENXTAM:MT) signed an agreement to acquire a 80% stake in voestalpine Texas LLC from Voestalpine AG (WBAG:VOE) on April 14, 2022. The enterprise value for 100% of the shares in voestalpine Texas is approximately $1 billion. Taking into account the expected debt development of voestalpine Texas, the transaction will lead to a cash inflow in the amount of the equity value for 80% of the shares in voestalpine Texas of approximately $680 million. Voestalpine AG will retain the remaining 20% stake in voestalpine Texas LLC. The transaction closing is subject to customary regulatory approvals. On May 16, 2022, ArcelorMittal S.A. has notified the Competition Authority about the transaction. BofA Securities, Inc. acted as financial advisor to ArcelorMittal. Crimmins, Paul of Mayer Brown LLP acted as legal advisor to ArcelorMittal.

ArcelorMittal S.A. (ENXTAM:MT) completed the acquisition of a 80% stake in voestalpine Texas LLC from Voestalpine AG (WBAG:VOE) on June 30, 2022. The transaction has received the customary regulatory approvals.