Reported about 11 hours ago
ArcelorMittal has announced its decision to sell its steel plant and mining operations in Bosnia and Herzegovina to Pavgord Group, which includes the ArcelorMittal Zenica steel plant and the ArcelorMittal Prijedor iron ore mining business. The sale is expected to result in a non-cash loss of approximately $200 million due to accumulating foreign exchange losses since acquisition. The transaction is anticipated to be completed by the third quarter of 2025, subject to regulatory approvals, while current employees will retain their jobs under new ownership.
Source: YAHOO