Votorantim Siderurgia/ArcelorMittal Brazil merger

Overview:

• Votorantim Siderurgia and ArcelorMittal Brasil have announced plans to combine their Brazilian steel businesses. 
• Votorantim Siderurgia will become a wholly-owned subsidiary of ArcelorMittal Brasil.
• Votorantim will own a minority share in ArcelorMittal Brasil.
• The new company will have an annual crude steel capacity of 5.6 million tonnes and annual rolling capacity of 5.4 million tonnes. 
• The transaction is still subject to CADE approval. 
• The Votorantim Group is a São Paulo-based conglomerate, while ArcelorMittal is a Luxembourg-based steel company. 

Rani Mehta - Journalist