Mittal Steel To Acquire Majority Stake In Romportmet Port Facility

Mittal Steel Company N.V. announced that it has acquired a majority stake in Romportmet, a port facility located in Galati, Romania. Mittal Steel has increased its shareholding in Romportmet to 89% through the acquisition of approximately 20 million shares from the Broadhurst Fund, the current majority shareholders at a total cost of USD 47 million. Mittal Steel Galati is already one of Romportmet"s major customers and the company previously owned an 11% stake in the port.