Deals
ThyssenKrupp to Boost Capital, Agrees to Sell U.S. Plant
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ThyssenKrupp AG plans to sell equity equivalent to as much as 10 percent of its market value as the largest German steelmaker found buyers for a U.S. plant that was part of the 202-year company’s worst investment.
ThyssenKrupp agreed to sell its U.S. steel plant to ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. for $1.55 billion, the Essen-based company said yesterday in a statement. The transaction includes the Alabama facility and a six-year agreement to purchase 2 million metric tons of slab annually from ThyssenKrupp’s Brazil CSA plant.