Deals
ArcelorMittal Said to Plan 3 Billion Euro Capital Increase
- Company may announce share sale as early as this week
- Billionaire Lakshmi Mittal to subscribe to significant portion
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ArcelorMittal SA, the steelmaker facing almost $15 billion of bond repayments over six years, is planning a capital increase of about 3 billion euros ($3.4 billion), according to people familiar with the matter.
The company could announce the share sale as early as this week, though the timing may change, the people said, asking not to be named as the details aren’t public. Billionaire Chief Executive Officer Lakshmi Mittal’s family trust, which already owns about 37 percent of the shares, will likely subscribe to a significant portion, they said.