News Formal

ArcelorMittal sells 50% stake in its shipping business

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

The world’s largest steelmaker plans to offload more assets to reduce its debt to below $7bn

Brussels — ArcelorMittal, the world’s largest steelmaker, has agreed to sell a 50% stake in its shipping business, the first step in its plan to offload $2bn worth of assets by the middle of 2021 to reduce its debt

The company, which had net debt of $10.7bn at the end of September, said on Monday that the sale of the stake in Global Chartering to DryLog would cut its debt by $530m. It has a target to pull it below $7bn.GCL operates 28 dry cargo vessels, 25 of which are on long-term leases with three owned outright, and will continue to handle a share of ArcelorMittal’s shipments.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

and Mbalula wants to start a state owned Shipping company 🙄

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

ArcelorMittal sells 50% stake in its shipping businessThe world’s largest steelmaker plans to offload more assets to reduce its debt to below $7bn
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

ArcelorMittal sells 50% stake in its shipping businessThe world’s largest steelmaker plans to offload more assets to reduce its debt to below $7bn
La source: BDliveSA - 🏆 12. / 63 Lire la suite »