Luxembourg: ArcelorMittal, the world's largest steel producer, on Monday said it completed the sale of its stake in ATIC Services SA (ATIC) to Netherlands-based HES Beheer NV for 155.4 million euros.
ArcelorMittal said its 78 percent stake in the European port handling and logistics company was sold to HES Beheer after getting all regulatory approvals.
"The transaction was completed for an agreed price of EUR 155.4 million," the steelmaker said in a statement.
The sale is consistent with ArcelorMittal's stated strategy of selective divestment of non-core assets, it said.
The steel giant said in April it had signed an agreement with HES Beheer for the sale of its stake in ATIC, which was subject to the customary closing conditions.
HES Beheer, which offers port services for bulk products, held 22 percent in ATIC and after the transaction with ArcelorMittal has 100 percent ownership.
HES Beheer provides stevedoring, storage, processing services for dry and liquid bulk products, which includes raw material for industries such as energy, steel and aluminium.The HES group of companies handles 60-70 million tonnes of products a year and its activities are concentrated in the Netherlands.
ATIC is a European leader covering the entire logistics chain associated with coal activity, bulk logistics as well as iron and steel products.
