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ArcelorMittal, Nippon Steel To Buy Thyssen U.S. Plant For $1.55 Billion

Arcelormittal and Nippon Steel agreed to buy ThyssenKrupp's steel plant in the United States for $1.55 billion. The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings. The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp's CSA steel mill in Brazil.

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