Official: Qazaqstan Steel Group has become investor informer ArcelorMittal Temirtau facilities

Astana. December 11. KazTAG - The Kazakhstani company Qazaqstan Steel Group (QSG) has become an investor in the enterprises of the former ArcelorMittal Temirtau, reports the press service of the QARMET company.
“Qazaqstan Steel Group, represented by Kazakh businessman Andrey Lavrentyev, reached an agreement with the Ministry of Industry and Construction of Kazakhstan on the acquisition of ArcelorMittal Temirtau assets,” reads  the statement.
Under the terms of the deal, QSG will purchase AMT's assets for $286 million and will also make guaranteed deferred payments of $450 million, payable in four equal annual installments. In addition, an additional $250 million will be paid at closing as payment of AMT's outstanding intercompany debt.
Talgat Temirkhanov has been appointed as the official representative of the Qazaqstan Steel Group shareholder in QARMET.

Photo source: picture from an open source


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