Archive · 4 Sep 2025
ArcelorMittal in Talks to Sell South African Unit
ArcelorMittal, a big steel company, is trying to sell its South African branch.
They're talking with a state-owned company called IDC, but they can't agree on how much the branch is worth.
IDC has offered around $398 million, but ArcelorMittal wants more.
The deal must be finalized by the end of September.
The talks started because the South African branch is losing money.
The government has also been working on how to help.
IDC already invested money into the company earlier this year.
IDC owns a small part of ArcelorMittal South Africa.
ArcelorMittal is in talks to sell its South African unit.
Talks with the Industrial Development Corporation (IDC) are ongoing but stalled on valuation.
An offer of up to 7 billion rand ($398.6 million) has been made for the unit.
The due diligence period is set to end on September 30.
The company had previously postponed closure after an investment by IDC.
- Who
- ArcelorMittal and the Industrial Development Corporation (IDC)
- What
- Negotiations to sell ArcelorMittal’s South African unit
- When
- Talks ongoing; due diligence period ends September 30.
- Where
- South Africa
- Why
- To potentially avert the closure of loss-making operations.
- Company
- ArcelorMittal
- South African Unit Offer
- Up to $398.6 million (7 billion rand)
- Stakeholder
- Industrial Development Corporation (IDC)
- IDC Stake
- Approximately 8.2%
- Due Diligence End
- September 30
- Previous IDC Investment
- 1.683 billion rand