{"id":22753,"date":"2026-01-22T13:41:22","date_gmt":"2026-01-22T11:41:22","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/arcelormittal-sa-in-advanced-talks-for-potential-deal-shares-spike\/"},"modified":"2026-02-27T16:33:40","modified_gmt":"2026-02-27T14:33:40","slug":"arcelormittal-sa-in-advanced-talks-for-potential-deal-shares-spike","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/arcelormittal-sa-in-advanced-talks-for-potential-deal-shares-spike\/","title":{"rendered":"ArcelorMittal SA in advanced talks for potential deal, shares spike"},"content":{"rendered":"<div dir=\"ltr\">ArcelorMittal South Africa (SA) said this Thursday it was in advanced talks with the state-owned Industrial Development Corporation (IDC) that could lead to a potential transaction, driving its shares up nearly 10%.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The loss-making South African unit of global steelmaking giant ArcelorMittal has been battling weak local demand, high electricity costs as well as competition from local scrap metal recycling mini-mills and imports from China.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The company mothballed its long-steel plants last year in an effort to stem losses.<\/div>\n<div dir=\"ltr\"><\/div>\n<div>ArcelorMittal SA said in a statement its parent company and the IDC &#8220;are engaged in advanced discussions to find a sustainable solution based on a non-binding term sheet regarding a potential transaction&#8221;.<\/div>\n<div dir=\"ltr\"><\/div>\n<div>The steelmaker did not disclose details of the proposed transaction, and the IDC was not immediately available to comment.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Bloomberg on Wednesday reported that the IDC, which is ArcelorMittal SA&#8217;s \u00a0second biggest shareholder with 8.2%, had resumed talks to acquire the business after negotiations stalled last year over valuation.<\/div>\n<div dir=\"ltr\">The IDC has, over the past two years, provided R2.6 billion ($160.79 million) in loans to help ArcelorMittal SA stay afloat.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":22754,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-22753","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The company mothballed its long-steel plants last year in an effort to stem losses.","published_date":null,"news_description":"The company mothballed its long-steel plants last year in an effort to stem losses.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22753\/revisions"}],"predecessor-version":[{"id":25946,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22753\/revisions\/25946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/22754"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22753"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}