Economy
South Africa moves towards $610 million takeover of Lakshmi Mittal’s struggling steelmaker as state-owned IDC prepares to assume $430 million debt
South Africa is moving towards a $610 million state takeover of ArcelorMittal’s struggling local steel business, potentially ending years of negotiations over the future of one of the country’s most important industrial companies. South Africa’s IDC reportedly reached an initial agreement to acquire ArcelorMittal…
Business Insider AfricaBy Ayodeji Adegboyega
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Read at Business Insider Africa →Original headline: “South Africa moves towards $610 million takeover of Lakshmi Mittal’s struggling steelmaker as state-owned IDC prepares to assume $430 million debt”
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