ArcelorMittal departs from Cleveland-Cliffs project

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ArcelorMittal sells its remaining 38.2 million shares in Cleveland-Cliffs and the proceeds are used to buy its own shares. This was announced by the steel giant on Friday morning.

ArcelorMittal is setting up a new $ 750 million stock purchase program. The programme will start immediately.

Earlier this year Mittal also sold shares in Cleveland-Cliffs.

A total of $ 1.9 billion will be paid out to shareholders ArcelorMittal in the form of purchasing their own shares.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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