AMSA notes some progress on customs duties, trade remedies as talks with IDC continue
JSE-listed steel producer ArcelorMittal South Africa (AMSA) has reiterated that it, the ArcelorMittal Group and the Industrial Development Corporation of South Africa (IDC) continue to engage about a potential transaction, but have not finalised an agreement on the transaction.
Accordingly, the anticipated timeline for a possible transaction has been delayed. The discussions remain subject to the conclusion of definitive agreements and receipt of various approvals, AMSA states.
It notes that there has been progress on the implementation of customs duties and other trade remedies and further progress with the negotiation of a reduced electricity tariff.
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