ArcelorMittal Reduces its Stake in Turkey’s Erdemir

SEATTLE (Scrap Monster): Luxembourg-based steelmaker ArcelorMittal has sold approximately two percent of its indirect shares and voting rights in Turkish steelmaker Ereğli Demir ve Çelik (Erdemir) for a total nominal value of TRY 186,074 ($9,905), according to Erdemir's statement to Turkey’s Public Disclosure Platform (PDP).

As a result of this transaction, ArcelorMittal’s previous stake of 12 percent in Erdemir has fallen to 9.55 percent.

Courtesy: www.steelorbis.com