[miningmx.com] — ArcelorMittal plans to list its stainless steel division in the first quarter of next year, Les Echos newspaper reported on Wednesday.
The main aim of the initial public offering would be to facilitate a tie-up with another company in the sector, the paper said, adding Oddo analysts valued the business at $3.4bn to $4.2 billion. The stainless steel division has 10,000 staff, including 3,100 in France, at four production sites, Les Echos said.
The Mittal family will retain 40.8% of the business, with 3% held by Luxembourg, Les Echos said.
ArcelorMittal was not available for comment.
