ArcelorMittal To Sell Operations In Bosnia And Herzegovina To Pavgord Group

(RTTNews) - ArcelorMittal has signed a sale and purchase agreement to sell its operations in Bosnia and Herzegovina. ArcelorMittal Zenica and ArcelorMittal Prijedor will be sold to Pavgord Group. ArcelorMittals shares in ArcelorMittal Zenica and ArcelorMittal Prijedor will be sold to Pavgord Group, and all employees jobs are transferred to the new owner.

The company noted that after a thorough strategic review it concluded that a sale is the best solution for the development of the business and its people. Net of sale proceeds, ArcelorMittal expects to record a non-cash loss on disposal of approximately $0.2 billion.