05
Jul
15:25
Saudi fund mulls doubling ArcelorMittal Jubail stake: reports
Saudi Arabia’s sovereign wealth fund is considering doubling its stake in seamless pipemaker ArcelorMittal Jubail to 40% by buying new shares and converting debt to equity, according to Bloomberg. The plan would see the Public Investment Fund (PIF) inject $300 million into the troubled producer.
PIF did not respond before deadline to requests from Kallanish for clarification.
ArcelorMittal Jubail’s 600,000 tonnes/year seamless pipe mill began ship…
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Anonymous
Very good overview of the weekly steel market.
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