Nippon agrees to sell Calvert stake, if USS deal closes

ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.

ArcelorMittal and Nippon announced on Friday that they’ve entered into a definitive equity purchase agreement. In it, Nippon has agreed to transfer its 50% stake in the AM/NS Calvert joint venture to ArcelorMittal upon the consummation of its $14.9-billion purchase of USS.

AM/NS Calvert
ArcelorMittal
Nippon Steel
U.S. Steel

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.