ArcelorMittal announced that following purchases of 11.31% on June 13 it now owns 24.989% of the Turkish steel company Erdemir.

The shares were acquired in transactions with Société Générale, Nextgen Capital Limited and Credit Suisse International. The acquisition price was YTL 8.4 (USD 6.69) per share. The value of the acquired stake is USD 869.25 Million.

Mr Sudhir Maheshwari senior executive VP of ArcelorMittal and a member of the company’s Group Management Board said that "We are pleased to be making this strategic investment in Erdemir, which we see as a very attractive company in a rapidly growing economy with excellent prospects for further growth.”