Arcelor Mittal pens Chinese deal
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The world's largest steel firm, Arcelor Mittal, moves closer to increasing its stake in China Oriental.
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The French Group Alstom Saturday will sign contracts worth up to 1 billion Euros (1.23 billion dollars) in China for the delivery of trains and locomotives, French sources with knowledge of the deal revealed to AFP.
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NEW YORK/FRANKFURT  - ArcelorMittal   has ended a $1.35 billion deal to sell its Sparrows Point steel plant to E2 Acquisition Corp because E2 had been unable to secure financing, the world's largest steelmaker said on Monday.
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Mittal Steel  is increasingly  confident it can convince Arcelor  shareholders to  back its offer to buy the European steel maker and pressure  management into dropping its resistance, Mittal's chief  executive said in a newspaper interview.
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Arcelor Mittal, the biggest steel group in the world, said it had agreed to revise an accord giving it access to major resources of iron ore in Liberia, in particular by increasing its investment.
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ExcelStor, owned by the Chinese government, is being acquired in a stock deal.
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NEW YORK (CBS.MW) - UK billionaire Lakshmi Mittal created the world&#39;s largest steel maker on Monday, buying out Wilbur Ross&#39; International Steel Group and merging it with his Ispat International and LNM Holdings groups in a deal worth almost $18 billion.
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The world&#039;s biggest  steelmaker Mittal  faced further pressure to raise its  23-billion-euro (&#36;29-billion) bid for rival Arcelor   after Russian suitor Severstal  improved its friendly  merger offer.
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Mittal Steel   said on  Monday that it owned 93.7 percent of the share capital of  Arcelor , as it moved toward creating the world's  biggest steel maker.
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Mittal Steel  , the  world's biggest steelmaker which is buying its closest rival,  Arcelor , said on Wednesday that its second-quarter  operating profit rose nearly 50 percent on the previous  quarter.
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The world's largest steel company, Arcelor Mittal, reports an annual profit of $10.36bn for 2007.
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Lakshmi Mittal&#39;s $4.5 billion acquisition of International Steel Group Inc. may prompt a spree of deals as the steel industry consolidates to cut costs.
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Sunil Bharti Mittal, who signed a deal in August to help bring Wal-Mart to India as a wholesale operation, has become a figurehead of Indian capitalism.
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Chinese state-owned Sinosteel Corp. has signed a strategic cooperation memorandum with JPMorgan Securities (Asia, Pacific) Ltd. Corp. to help it explore opportunities in the mining and smelting sector, Xinhua Net reported on Sunday.
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Wilbur Ross, whose buyout firm created International Steel less than two years ago, is selling the company to Lakshmi N. Mittal, the billionaire steel tycoon, for $4.5 billion.
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Steel tycoon Lakshmi N. Mittal announced plans to pay $4.5 billion in cash and stock for U.S. steelmaker International Steel Group Inc., which had been cobbled together by onetime investment banker Wilbur L. ...
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Arcelor and Mittal Steel, which have agreed on a deal to form the worldâs largest steel maker, said their combined earnings fell 3.5 percent, to $7.97 billion, in 2006 because of higher raw material costs. The companies also said they had $4.5 billion to $5 billion available for acquisitions this year, and confirmed that they were examining the financial records of an Indian steel maker, Sesa Goa. Reporting as if the companies were already fully combined, Arcelor Mittal said it earned $7.97 billion in 2006, down from $8.26 billion a year earlier. Revenue rose 10 percent, to $88.57 billion, in the year.