ArcelorMittal, the world's largest steel company, made it in public that it is going to trade about 7% of its stock ownership for about 233,169,183 in Ere?li Demir ve ?elik Fabrikalar? T.A.?. or Erdemir, the largest steel producer in Turkey specializing in long products and the 5th biggest steel producer in Europe since 2010, to exchange for US$ 267 million roughly, by way of a single accelerated book built offering to institutional investors. Before the trading of stock, ArcelorMittal's shares in Erdemir up to 18.74% in Erdemir's share capital. Erdemir has only 3.08% of shares in its own company and Turkey's Ataer Holding represents a 49.29% stake in Erdemir.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66619&division=A9
