and rolling against second. "But Valin iron and steel in the steel-making capacity

Mittal disguised hualing to raise 10% to decrease automobile joint venture company Hunan Valin iron and steel company limited (Valin steel, 000932) two major shareholders--Hunan Valin iron and steel group co, Ltd (hereinafter referred to as "hualing group") and ArcelorMittal (hereinafter referred to as "plex Mittal") attempts to Valin steel Valin and ArcelorMittal automotive joint ventures limited (hereinafter referred to as "car plateCompany ") equity exchange. According to the announcement, hualing group in cooperation with Arcelor Mittal, a move designed to convert, Valin iron and steel (000932), second-largest shareholders of Arcelor Mittal will be selling some shares to the shareholders of hualing group, so as to reduce its Valin iron and steel shares and plex Mittal by using some of the money to increase its carTo 49% of joint venture company, hualing holdings of steel automobile joint venture stake to 51%, hualing group exits from the automobile joint venture company. After the reduction Valin steel, Arcelor Mittal will also hold 10.07% stake in hualing steel. Notice does not disclose the price of the stock replacement last night, but according to Arcelor Mittal twice inValin iron and steel prices have been higher than the current market price of a share more than 50%. Mittal is reduce stake in hualing steel Arcelor Mittal in disguise into the past of China iron and steel industry is the most important strategy and approach link, which was at the time widely watched. On January 14, 2005, the hualing holdings to $ 3.96 per share price of 656.25 million unit sale to Mittal Steel companyState-owned legal person shares, Valin iron and steel 37.17% of the total equity, contract price amounted to $ 2,598,750,000. Since then, Mittal to buy plex, as the production around the world's largest enterprises �C ArcelorMittal steel. Since then, Arcelor Mittal, ready to participate in directional add-issuance of Valin steel, 2007 in 5.8 price/share subscription 2.5651.6 billion shares, shareholding increased to 903 million shares. Then in a non-public offering in 2008, caused by dropped the price higher than the market price of additional, Arcelor Mittal, giving up a share. After ArcelorMittal stake in hualing steel, global steel industry had changed, Valin iron and steel from the 2010 $ appeared more than 2 billion loss is not out of the woods yet.Last year, its iron and steel industry is still more than $ 1 billion of losses, with the Hunan provincial government $ 1.168 billion in subsidies to achieve profit, avoid strength "ST" for this reduction of Arcelor Mittal Valin iron and steel stocks "rumors" continuously. In the area of technical cooperation, Valin steel and Arcelor Mittal have friction, August 2011 Hunan securities Bureau publicationsHunan Valin iron and steel company limited, of a decision ordering corrective measures taken by publicly accused plex Mittal unresolved shareholder responsibility, this would shock the market. Hunan securities Bureau said, has not Valin lianyuan iron and steel group Arcelor Mittal 2,250 hot line technical support, resulting in hot rolling of hot rolling line unable to produce high quality, high value-added base plates, eventually resulting in ChinaRhombus in lianyuan iron and steel production of hot-rolled coils for loss of $ 857 million. According to last night's announcement, ArcelorMittal can be divided into 4 periods (each for a period of 6 months) by both sides to the agreed exercise price to sold 600 million shares held by hualing group exercise Valin steel stock options, each no more than 150 million shares. Valin steel Arcelor Mittal will be 600 million share after all transfers to the Valin group, Hualing group owns 59.9% shares of Valin steel, Valin steel holding shareholders www.powerleveling.us/diablo-3|diablo 3 power leveling, Arcelor Mittal also owns 10.07% shares of Valin iron and steel. From a price perspective, Arcelor Mittal, 2005 share price of $ 3.96/share, stake in price to 5.8 yuan per share for 2007, and ending days of suspension, Valin iron and steel complex right priceFor $ 2.63/unit. For replacement of the equity price, Valin iron and steel is not disclosed in the announcement last night. Auto joint venture in exit Valin steel offer at the same time, Arcelor Mittal to raise car joint venture company. Announcement last night, hualing group transfers to hualing steel and Arcelor Mittal automotive joint venture companies and 17%Equity. After the end of the stock transfer, Valin steel automobile joint venture stake rose from 34% to cent, Arcelor Mittal stake rose from 33% per cent, hualing group joint venture company will exit the car plate. At the same time, Valin steel and Arcelor Mittal automotive joint venture capital increase, vehicles registered capital of the joint venture company will beIncreased $ 1.53 billion to $ 2.6 billion. For Arcelor Mittal venture capital holdings and capital increase and car plates, notice to the Valin displayed comes from its proceeds of Valin steel group transferred 600 million shares. Valin steel automobile joint venture formed in 2008, year in June by the Valin steel and hualing group, Arcelor Mittal, funded, Arcelor MittalAutomobile sheet production line of joint venture company to provide technical licensing, design and quality of production and improve the necessary technologies and related know-how and hualing steel subsidiary license of lianyuan iron and steel hot-rolled plate production technology, technical support and training, Valin lianyuan iron and steel would be adequate, stable, and sustained to the car company shall supply contract-compliant substrate. Last night's announcement, in automobile joint venture publicDivision of equity transfer and capital increase completed, automobile joint venture debt to asset ratio dropped from 66% to 50%, investments increased from $ 4.5 billion to $ 5.2 billion, increased by 1.2 million tons/year of production capacity to 1.5 million tons/year. Notice display, the equity exchange is designed to accelerate the construction of automobile joint venture projects and technology transfer, as well as speeding up 2,250 Valin lianyuan steel heatRolling base plate production technology transfer and project efficiency, profitability and restore the Valin steel. Valin steel believe that Arcelor Mittal automotive joint venture stake and the amount of capital increase, beneficial to both focus on high-end steel products deep processing of downstream cooperation, give full play to plex Mittal as a globally recognized technology advantages of the automobile market leader.Steel analyst Lv Fuzhen Langer believes that in the automotive market, the competitiveness of other mills in China are stronger, he said, "many steel mills, such as Anshan iron and steel, Shougang, steel, even the Tangshan iron and Steel City, and car plates are also good quality. "Frank Lee, analyst at MySteel believes that production car requires steel plant has a powerful steel-making capacity,Because the products on steel purity requirements are very high, and rolling against second. "But Valin iron and steel in the steel-making capacity, not outstanding. "Frank Lee says," but in Hunan, logistic advantages, inadequate resources. ��