Luxembourg-based steelmaker ArcelorMittal has sold some of its indirect shares and voting rights in Turkish steelmaker Ereğli Demir ve Çelik (Erdemir) for a total nominal value of TRY 6.75 million ($356,116), according to Erdemir's statement to Turkey’s Public Disclosure Platform (PDP).
As a result of this transaction, ArcelorMittal’s previous stake of 9.55 percent in Erdemir has fallen to 4.88 percent.
ArcelorMittal’s previous stake of 12.08 percent in Erdemir had fallen to 9.55 percent as a result of a transaction in January this year, as SteelOrbis previously reported.