ArcelorMittal M&A Head Holds Talks in South Africa Over Unit Sale

ArcelorMittal, the world's largest steelmaker, is exploring the sale of its South African unit. The company's head of mergers and acquisitions, Ondra Otradovec, is holding talks with South Africa's top development-finance institution and trade department regarding the potential sale. The discussions are still in the early stages, and no final decision has been made. The sale of the local unit could be part of ArcelorMittal's broader strategy to optimize its global portfolio and focus on its most profitable operations. The South African unit has been facing challenges, including increased competition and rising costs. The sale could provide an opportunity for the company to streamline its operations and focus on more promising markets. The outcome of the talks will be closely watched by the South African steel industry and the broader economy, as the local unit's operations are an important part of the country's industrial landscape.