Arcelor Mittal Buys Sicartsa For $1.4 Billion

Arcelor Mittal Buys Sicartsa For $1.4 Billion


Luxembourg-based steelmaker Arcelor Mittal has agreed to buy 100% of Sicartsa, a Mexican integrated steel producer, from Grupo Villacero in a deal worth $1.4 billion. Sicartsa has plants in Mexico and Texas. The deal will make Arcelor Mittal the largest steel-producer in Mexico. The two companies will also create a downstream strategic alliance. This is Arcelor Mittal's first acquisition since the creation of the company earlier this year and it expects the acquisition to "generate $80 million o

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