Brussels — ArcelorMittal, the world’s largest steelmaker, has agreed to sell a 50% stake in its shipping business, the first step in its plan to offload $2bn worth of assets by the middle of 2021 to reduce its debt
The company, which had net debt of $10.7bn at the end of September, said on Monday that the sale of the stake in Global Chartering to DryLog would cut its debt by $530m. It has a target to pull it below $7bn.GCL operates 28 dry cargo vessels, 25 of which are on long-term leases with three owned outright, and will continue to handle a share of ArcelorMittal’s shipments.
and Mbalula wants to start a state owned Shipping company 🙄
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ArcelorMittal sells 50% stake in its shipping businessThe world’s largest steelmaker plans to offload more assets to reduce its debt to below $7bn
Source: BDliveSA - 🏆 12. / 63 Read more »
ArcelorMittal sells 50% stake in its shipping businessThe world’s largest steelmaker plans to offload more assets to reduce its debt to below $7bn
Source: BDliveSA - 🏆 12. / 63 Read more »
The state and black participants to have minimum stakes in oil and gas projectsThe prescribed state interest is provided for in the draft Upstream Petroleum Resources Development Bill, gazetted on Tuesday just like the mafia They loot everywhere How about no stakes? Why only black participants? What about the rest of the people in SA? Only their tax money matter?
Source: BDliveSA - 🏆 12. / 63 Read more »