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ArcelorMittal Kryviy Rih to Pay USD 433 Million to Parent

Steel News - Published on Wed, 11 Sep 2019

Image Source: Stahl
RFE/RL reported that ArcelorMittal and located in Ukraine, is planning to move USD 433 million out of the country to pay dividends to its parent company. In a filing to the National Securities and Stock Market Commission dated September 6, the steel mill, based in Kryviy Rih in southern Ukraine announced that it will hold an extraordinary shareholders' meeting on October 10 to vote on the payout.

The decision comes as the company faces two probes that were started in July after Zelenskiy was elected president. One relates to alleged pollution issues that the company denies and USD 360 million in unpaid taxes.

It paid USD 350 million last year and USD 190 million in the first six months of this year in taxes. In 2018, the mill reported USD 380 million in earnings.

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Posted By : Amom Remju on Wed, 11 Sep 2019
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