English
"ArcelorMittal", the world"s largest steel maker, today decided to acquire a 13.9% stake in its Czech arm "ArcelorMittal Ostrava" for $ 404.3 million (6.88 billion Czech Crowns) from a division of "PPF Group" NV.
"ArcelorMittal" will thus increase its stake in "ArcelorMittal Ostrava" to approximately 96.4%.
Earlier this year, "ArcelorMittal" increased the size of the stake in its Czech division to 82% following the acquisition of stocks from the government. In 2008, "ArcelorMittal Ostrava" produced 1.8 million metric tons of steel.
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