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ArcelorMittal ups stake in Brazil unit to 97.7%

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ArcelorMittal, the world's largest steelmaker, said that it had raised its stake in its Brazilian stainless steel unit to 97.64% following the end of its tender offer for its subsidiary.

ArcelorMittal said that it would now take steps to delist the company following the successful close of the $1.66 billion offer.

In a separate announcement, ArcelorMittal said Malay Mukherjee was stepping down from the group's management board and will join the board of directors subject to shareholder approval. (Reuters)

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