ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion

FRANKFURT (Reuters) – Arcelormittal and Nippon Steel & Sumitomo Metallic Corp agreed to purchase ThyssenKrupp's steel plant in the USA for $1.55 billion, ArcelorMittal stated late on Friday. The transaction can be financed thru a combination of fairness and debt at the three way partnership stage and can yield $60 million of annual financial savings, it said. The deal includes a six-year settlement to buy 2 million lots of metal slab per yr from ThyssenKrupp's CSA metal mill in Brazil. (Reporting via Maria Sheahan; Editing by way of Jonathan Gould)