Date:14/12/2007 URL: http://www.thehindu.com/2007/12/14/stories/2007121461262200.htm

Business

ArcelorMittal signs takeover deal with China Oriental

ArcelorMittal, said on Thursday that it had signed a deal to take over China Oriental and will raise its stake to 73.13 per cent from 28.02 per cent in the Hong Kong-listed steel maker, the two companies said in a joint statement, a move which will cost around $1 billion.