Cleveland-Cliffs Inc

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Debt Financing / Related, Divestitures / Spin-offs

ArcelorMittal Completes Sale Of ArcelorMittal USA To Cleveland-Cliffs

Published: 12/09/2020 13:29 GMT
Cleveland-Cliffs Inc (CLF) - Completes Sale of Arcelormittal USA to Cleveland-cliffs.
Under Terms of Sale, Arcelormittal Has Received $505 Million Cash, 78 Million Shares of Cleveland-cliffs Common Stock and Non-voting Preferred Stock.
As Agreed, Cleveland-cliffs Has Assumed Liabilities of Arcelormittal USA, Including Net Liabilities of Approximately $0.5 Billion and Pensions and Other Post-employment Benefit Liabilities.