Arcelor Adds Argentine Steel Company (1)

Steelmaker ArcelorMittal dropped another South American firm in its shopping cart, agreeing to acquire Argentina’s M.T. Majdalani y Cia. for an undisclosed price. The deal for the family-owned maker of flat stainless steel products awaits regulatory approval. In October, ArcelorMittal paid $542m to buy the third of Argentine steel company Acindar that it did not already own. Last week ArcelorMittal agreed to spend up to $1.75bn to buy out ArcelorMittal Inox Brasil, formerly known as Acesita.