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    PPF Group N.V. divests its 13.8% stake in ArcelorMittal Ostrava a.s.

    Following an agreement signed with ArcelorMittal, PPF Group N.V today announces that it will sell its 13.881% investment in ArcelorMittal Ostrava, a.s., for CZK 6,879,524,000.

    As a result, ArcelorMittal will increase its stake in ArcelorMittal Ostrava, a.s. to approximately 96.4% and PPF Group N.V. will leave the Czech steelmaker‘s shareholding structure. The completion of the transaction is not subject to third party approvals.

    Commenting on the announcement, Jiri Smejc, PPF Group shareholder said: “PPF Group has once again proved its ability to successfully undertake highly complex commercial transactions with large major international companies to mutually satisfaction”.

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