# Bekaert and ArcelorMittal close Sumaré steel cord deal

Bekaert and ArcelorMittal closed the transaction to integrate Bekaert's wholly-owned subsidiary in Sumaré, Brazil, into the BMB joint venture, with ArcelorMittal becoming majority shareholder (55.5%) and Bekaert retaining 44.5%.

- Type: Acquisition
- Announced: 2017-06-21
- Where: Sumaré, Brazil
- Value: $63.0M (56.0M EUR)
- Status: completed
- Products: steel cord
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Bekaert](https://endata.com/companies/15869.md)
- [ArcelorMittal](https://endata.com/companies/292.md) (acquirer)
- [Bekaert](https://endata.com/companies/15869.md) (partner)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2017/06/22/1027500/0/en/bekaert-and-arcelormittal-successfully-close-sumar%c3%a9-deal.html), 2017-06-22: "Bekaert and ArcelorMittal have closed the transaction to integrate Bekaert's formerly wholly-owned subsidiary in Sumaré (Brazil) into the BMB partnership."
- [ibram.org.br](https://ibram.org.br/en/noticia/arcelormittal-e-bekaert-fecham-acordo-de-subsidiaria-em-sumare-sp/), 2017-06-23: "ArcelorMittal and the Bekaert Group closed a transaction on June 21st to integrate Bekaert's former subsidiary in Sumaré (SP)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.