ThyssenKrupp takes legal action against Mittal over Dofasco

0 Comments | AFP, December, 2006

PARIS (AFP) — The steel giant Arcelor Mittal has said that it faced legal action by German industrial group ThyssenKrupp on grounds that it had not honoured a commitment to sell ThyssenKrupp the Canadian steelmaker Dofaso. Arcelor Mittal said that it considered the litigation to be without foundation, but that a court hearing would be held in Rotterdam, The Netherlands, on January 11.

Arcelor Mittal said ThyssenKrupp had alleged it had not respected the terms of a written agreement. The two groups have been in dispute for months over the fate of Dofasco. In January, Arcelor, at the time independent and the biggest steel group in Europe, arranged to buy Dofasco for 4.0 billion euros (5.3 billion dollars) after a bidding battle with ThyssenKrupp. But then Mittal Steel, which...