Mittal offers 4.6m euros to delist Romportmet

Mittal Steel Holding, the owner of the Sidex Galati steel mill, has put out a tender offer for 10% in harbour operator Romportmet, after acquiring control of nearly 90% in the company following the takeover of the controlling interests held by Broadhurst investment fund. The value of the offer exceeds 4.6 million euros, with Mittal offering 6.65 RON for each of the 2.53 million shares held by the minority shareholders – the same price as paid to Broadhurst. The offer is due to start today and end on December 13. Mittal took over 78% in Romportmet in September, in one of the biggest deals conducted on the RASDAQ thus far, worth 37.8 million euros. The steel group had previously controlled 11% in the harbour operator through Sidex Trading. ZF