By Alex MacDonald
LONDON--Steel titan ArcelorMittal (MT) said Wednesday it has
agreed to sell its majority stake in European port handling and
logistics company ATIC Services SA to HES Beheer NV (HES.AE) for an
undisclosed price.
The sale of a 78% stake in ATIC to logistics firm HES Beheer,
which already owns a 22% stake in the port handler, is consistent
with ArcelorMittal's strategy to sell non-core assets, the
steelmaker said.
The deal is expected to close in June 2014, the company
said.
ArcelorMittal acquired a 33.4% stake in ATIC Services in
December 2011 for $34 million.
ATIC is a leading European provider of logistic services
relating to the coal industry, headquartered in France.
Write to Alex MacDonald at alex.macdonald@wsj.com
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