# Nippon Steel to transfer NS Kote shares to ArcelorMittal at closing of USS acquisition

Nippon Steel Corporation entered into an Equity Purchase Agreement to transfer all shares of its wholly owned subsidiary NS Kote, Inc. to ArcelorMittal S.A., substantially concurrent with the closing of Nippon Steel's pending acquisition of United States Steel Corporation.

- Type: Acquisition
- Announced: 2024-10-11
- Where: Calvert, Alabama, United States
- Status: announced
- Products: steel products
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Nippon Steel](https://endata.com/companies/7455.md)
- [ArcelorMittal](https://endata.com/companies/292.md) (acquirer)
- [Nippon Steel](https://endata.com/companies/7455.md) (partner)
- [Nippon Steel](https://endata.com/companies/7455.md) (target)
- [AM/NS Calvert](https://endata.com/companies/49131.md) (target)
- [NS Kote, Inc.](https://endata.com/companies/80369.md) (target)

## Sources

- [nipponsteel.com](https://www.nipponsteel.com/en/news/20241011_300.html), 2024-10-11: "Nippon Steel has agreed to transfer all shares of its wholly owned subsidiary, NS Kote, Inc., to ArcelorMittal substantially concurrently with the consummation of Nippon Steel's pending acquisition of United States Steel Corporation."
- [globenewswire.com](https://www.globenewswire.com/news-release/2024/10/11/2961803/0/en/nippon-steel-agrees-to-sell-its-interest-in-calvert-to-arcelormittal-at-the-request-of-nsc-pursuant-to-its-agreed-acquisition-of-us-steel.html), 2024-10-11: "ArcelorMittal will pay $1 consideration for the Transaction; further, NSC will inject cash and forgive partner loans in an amount estimated to be approximately $0.9 billion."
- [reuters.com](https://www.reuters.com/markets/deals/nippon-steel-sell-calvert-jv-arcelormittal-if-us-steel-deal-completed-2024-10-11/), 2024-10-11: "Nippon Steel said on Friday it will sell its entire 50% stake in a joint-venture steel plant it has in Calvert, Alabama, with ArcelorMittal, if the top Japanese steelmaker succeeds in a buyout bid for United States Steel."
- [poandpo.com](https://www.poandpo.com/companies/arcelormittal-to-acquire-nippon-steels-stake-in-amns-calvert-following-us-steel-deal/), 2024-10-18: "ArcelorMittal has announced the signing of a definitive Equity Purchase Agreement with Nippon Steel Corporation (NSC), under which ArcelorMittal will acquire NSC's 50% equity stake in the AM/NS Calvert Joint Venture."
- [metallurgprom.org](https://metallurgprom.org/en/publications/analytics/15741-obzor-meps-po-slijanijam-i-pogloschenijam-v-mirovom-stalelitejnom-sektore.html), 2024-11-03: "Nippon Steel has agreed to sell its 50% stake in AM/NS Calvert to its joint venture partner ArcelorMittal."
- [akm.ru](https://www.akm.ru/eng/news/arcelormittal-acquires-50-stake-in-calvert-joint-venture-from-nippon-steel/), 2024-11-14: "The deal was concluded at the request of NSC in order to resolve problems related to regulatory authorities as part of the acquisition of the American steel company US Steel."

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