Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 16

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 16
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 Funds managed by Apollo Global Management, Inc., for a total consideration of € 960 million ($1,048 million). Having carried out a successful restructuring in recent years, the Company believes Vallourec presents a compelling opportunity to increase ArcelorMittal’s exposure to the attractive, downstream, value-added tubular market. Vallourec is a global leader in premium tubular solutions for energy markets and demanding industrial applications, offering innovative, safe and competitive products for various sectors including energy, automotive and construction. Approximately 85 % of Vallourec’s 2.2 million tonnes of annual rolling capacity is focused around low- carbon, integrated productions hubs in the United States and Brazil, both of which are important strategic markets for ArcelorMittal . • On October 11, 2024, ArcelorMittal announced it had entered into a definitive Equity Purchase Agreement (the “Agreement”) with Nippon Steel Corporation (“NSC”) pursuant to which ArcelorMittal will purchase NSC’s 50% equity interest in the AMNS Calvert joint venture (the “Transaction”). The Transaction was entered into at the request of NSC to address regulatory concerns pursuant to its entry into an agreement to acquire US Steel . The Transaction is subject to NSC completing its pending acquisition of US Steel, which is subject to various other regulatory requirements. Under the terms of the agreement, ArcelorMittal will pay $1 consideration for the Transaction; further, NSC will inject cash and forgive partner loans in an amount estimated to be approximately $0.9 billion. On January 3, 2025, the U.S. President issued an order prohibiting NSC from acquiring US Steel but the parties were granted an extension to June 18, 2025 to permanently abandon the transaction. The agreement with NSC remains in place until such date. Recent developments • On March 3, 2025, ArcelorMittal announced the appointment of Jorge Luiz Ribeiro de Oliveira, currently Vice President of ArcelorMittal and CEO of ArcelorMittal South America Flat Products, as Executive Vice President and an Executive Officer of ArcelorMittal as well as President of ArcelorMittal Brasil effective April 1, 2025, to succeed Jefferson de Paula who is retiring, effective April 1, 2025. See "Management and employees —Directors and senior management—Senior management". Sustainable development highlights • On February 27, 2024, ArcelorMittal announced that it had signed a memorandum of understanding