ArcelorMittal surges 5% on possible South Africa's business takeover bid 📈

1:11 PM 1 October 2025

Shares of the Arcelor Mittal (MT.NL) surge more than 5% today, reaching the highest level since 2022 amid reports that South Africa’s Industrial Development Corp. (IDC) is weighing a 8.5 billion rand ($491m) takeover of ArcelorMittal South Africa’s operations after two years of negotiations. ArcelorMittal remains the world’s largest steelmaker, with facilities in 18 countries and sales across 160. IDC is a state-owned financier with a mandate to support industrial recovery in South Africa.

  • If the deal clears regulators, IDC plans to bring in international steel players as partners, with Networth Investments among those mentioned.

  • In 2023, ArcelorMittal SA warned of shutting down Newcastle and Vereeniging plants – critical suppliers for the automotive and mining industries, employing 3,500 staff and 100,000 suppliers.

  • High energy costs, weak rail links, and cheap imports pushed Amsa toward closures. IDC sees an acquisition as a way to stabilise and restart operations.

  • IDC is ready to repay ArcelorMittal loans and inject fresh cash. Several investors have already approached IDC about joint ventures or co-financing.

Arcelor Mittal (MT.NL, D1 interval)

 

Source: xStation5

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