ArcelorMittal Reduces Net Debt by $4B; Announces $3B Capital Raise; Sale of Gestamp Stake for ~$1B

ArcelorMittal

today announces a proposed[1] capital raise of US$3.0[2] billion which, alongside the sale of its minority stake in Gestamp for approximately US$1 billion also announced today, would reduce pro forma net debt as of 31 December 2015 by US$4 billion to below US$12 billion. The Company separately announces today a five-year strategic roadmap, the ArcelorMittal Action 2020 plan, which sets out improvement plans for each of its five business segments and aims to improve Ebitda and free cash flow performance.  Features of the c.US$3.0 billion share capital increase, expected to be completed in H1 2016,