Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 358

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 358
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 recognized a 177 financial liability at amortized cost measured at the present value of the redemption amount of the written put option based on the lower of equity value increased by an annual contractual return and fair value. The Company completed its measurement of the acquisition-date fair value of the identifiable assets and liabilities of ArcelorMittal Texas HBI. It recognized 283 (including trade receivables of 124 ), 949 and 11 of current assets, property, plant and equipment and intangible assets, respectively. ArcelorMittal recognized a 97 bargain purchase gain in cost of sales as a result of i) ArcelorMittal's agreement for voestalpine to retain a 20% non-controlling interest ii) the above-mentioned offtake agreement and iii) the fair value of property, plant and equipment exceeding its carrying amount. Revenue and net loss since acquisition date till December 31, 2022 were 445 and 35 , respectively. ArcelorMittal HBI is part of the North America reportable segment. On July 1, 2022, the Company completed the combined acquisition of three subsidiaries from environmental services and recycling company ALBA International Recycling (ALBA Metall Süd Rhein-Main GmbH, ALBA Electronics Recycling GmbH and ALBA Metall Süd Franken GmbH in aggregate "ALBA") active in ferrous and non-ferrous metal recycling in Germany for total consideration of 65 of which € 51 million ( 45 net of cash acquired of 9 ) in cash and deferred consideration of 11 . Following the completion of the acquisition-date fair value of the identifiable assets and liabilities of the three companies, the Company recognized goodwill of 22 . Revenue and net income since acquisition date till December 31, 2022 were 87 and 1 , respectively. ALBA is part of the Sustainable Solutions reportable segment . On February 28, 2025, ArcelorMittal signed a share purchase and shareholders' agreement with the management of the joint venture ArcelorMittal Tailored Blanks Americas following which the Company shall increase its ownership from 80% to 90% and acquire control. In addition, on February 28, 2025, the Company also signed a share purchase agreement to acquire a 60% controlling stake in Tuper, a joint venture in which it already held a 40% interest. Transaction closing is subject to certain corporate and regulatory approvals including CADE (Brazilian anti-trust) approval. Both acquisitions are expected to close