ArcelorMittal completes sale of ArcelorMittal Temirtau

For a few months, ArcelorMittal and the Kazakh government had been in discusses to decide on a sustainable course of action for the integrated steelmaking asset situated in the Karaganda region.

Under the terms of the transaction, on closing ArcelorMittal has received consideration of $286 million and a further $250 million as repayment of outstanding intra-group dues. ArcelorMittal will also receive an additional sovereign-fund guaranteed payment of $450 million, paid in four equal annual instalments, as repayment of an intra-group loan.