POLITICS

ArcelorMittal buys Imperial Crown Trading for R800m

Steel company buys company granted Sishen prospecting rights by DME

ARCELORMITTAL SOUTH AFRICA LIMITED

(Incorporated in the Republic of South Africa)

(Registration Number 1989/002164/06)

ACQUISITION BY ARCELORMITTAL SOUTH AFRICA OPERATIONS (PTY) LTD ("OPCO") OF 100% SHAREHOLDING IN IMPERIAL CROWN TRADING 289 (PTY) LTD ("ICT")

It is hereby announced that ArcelorMittal South Africa through its wholly owned subsidiary OPCO, has entered into an agreement ("the Agreement") providing for the acquisition by OPCO of the entire issued share capital of ICT ("the Acquisition").

ICT is the holder of a prospecting right in relation to a 21.4% undivided share in a prospecting area more fully described in such right, and has the following shareholders:

  • Mabelindile Archibald Luhlabo;
  • Mojalefa Mbete;
  • Prudence Zerah Mtshali;
  • Pragat Investments (Jagdish R Parekh);
  • Phemelo Ohentse Robert Sehunelo; and
  • Zebo Lesego Edwin Tshetlho

The aggregate purchase price payable by OPCO in consideration for the Acquisition shall be an amount of R 800 000 000, which shall be payable subject to terms and conditions, including, inter alia, completion of a due diligence exercise to the satisfaction of ArcelorMittal South Africa.

For JSE Limited Listings Requirements purposes, the Acquisition is not a categorised transaction and no related parties are involved.

Vanderbijlpark

Tuesday, 10 August 2010

This statement by ArcelorMittal was issued on the JSE's SENS Service, August 10 2010

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