ArcelorMittal announces closing of its fourth share buyback program and the launch of a fifth US$1 billion share buyback program
ArcelorMittal has completed its fourth share buyback program, repurchasing 67.4 million shares for €1.88 billion (US$2.2 billion) at an average price of €27.91 per share. A new US$1 billion buyback program will commence, aimed at enhancing shareholder value and funding obligations under equity securities and employee share programs. This buyback is part of a larger initiative, totaling US$2 billion to be funded from 2021 cash flow, expected to conclude by February 2022, subject to market conditions.
- Completed a buyback of €1.88 billion, enhancing shareholder value.
- New buyback program of US$1 billion adds to total of US$2 billion, indicating strong cash flow.
- None.
17 November 2021, 14:15 CET
ArcelorMittal (the ‘Company’) today announces that it has completed the fourth share buyback program announced on 29 July 2021 under the authorization given by the annual general meeting of shareholders of 8 June 2021 (the ‘2021 AGM Authorization’).
By market close on 16 November 2021, ArcelorMittal had repurchased 67,404,066 shares for a total value of
ArcelorMittal will today commence a new share buyback program in the amount of US
The shares acquired under the Program are intended:
1) To meet ArcelorMittal’s obligations under debt obligations exchangeable into equity securities;
2) To reduce ArcelorMittal’s share capital, and/or;
3) To meet ArcelorMittal’s obligations arising from employee share programs.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 17 countries. In 2020, ArcelorMittal had revenues of
Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/
Contact information ArcelorMittal Investor Relations | |
General | +44 20 7543 1128 |
Retail | +44 20 3214 2893 |
SRI | +44 20 3214 2801 |
Bonds/Credit | +33 171 921 026 investor.relations@arcelormittal.com |
Contact information ArcelorMittal Corporate Communications | |
Paul Weigh Tel: E-mail: | +44 20 3214 2419 press@arcelormittal.com |
1 The Significant Shareholder has declared its intention to enter into a share repurchase agreement with ArcelorMittal, to sell each trading day on which ArcelorMittal has purchased shares under the Program, an equivalent number of shares, at the proportion of the Significant Shareholder’s stake in the Company of
2 https://corporate.arcelormittal.com/media/press-releases/arcelormittal-reports-third-quarter-2021-results
FAQ
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