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ArcelorMittal explores the sale of construction arm
13 Sep 2019
The world’s largest steel manufacturer, ArcelorMittal, is reportedly exploring avenues in relation to the possible sale of its construction business as it divests peripheral ventures.
The company is currently in talks with advisers to chart out an auction for the division which is associated with products that include roof panels. It is speculated that the business after the sale could fetch around 700-800 million Euros.
It is also reported that the following sale is expected to happen in the fourth quarter of the year and will get attention from producers of building materials as well as from private equity firms.
In an announcement in August, ArcelorMittal stated that it had the potential to unlock USD 2 billion from its portfolio, signalling a possible sale of non-core units.