ArcelorMittal announced that it has signed an agreement to acquire a 13.881% stake in ArcelorMittal Ostrava AS from a subsidiary of PPF GROUP NV, an international financial and investment group in Central and Eastern Europe, for CZK 6,879,524,000.

This values ArcelorMittal Ostrava AS at an Enterprise Value of approximately USD 264 per tonne of liquid steel capacity. The final payment will be made in 2010.

ArcelorMittal will thus increase its stake in ArcelorMittal Ostrava AS to approximately 96.4% and PPF GROUP N.V. will step out of the Czech steel maker’s shareholding structure.

This agreement is consistent with ArcelorMittal’s commitment to continue as one of the largest foreign investors in the Czech Republic.