ArcelorMittal SA agreed to buy Brazilian steelmaker CSP from shareholders including Vale SA for $2.2
billion as the steelmaker continued to expand its operations in the Americas.
ArcelorMittal, itself created though one of
Biggest ever takeovers, has been a compulsive
dealmaker under the leadership of billionaire Executive Chairman Lakshmi Mittal. In the past few years, it's swooped to buy
plants from the US to India and Italy.
THE CSP plant was built during the last decade by
Vale, but was considered a non-core asset by the world's second-biggest iron
ore producer. For ArcelorMittal, it provides a potential supply of steel slabs
that can feed its plants in both North and South America. It can also be expanded to produce low carbon
steel.