Arcelor/Mittal allowed to retain Dofasco shares in ThyssenKrupp suit - court |
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Published
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Tue, 23 Jan 2007 13:55
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AMSTERDAM (AFX) - Arcelor/Mittal has been allowed by a Dutch court to hold on to its majority shares in Dofasco, a Dutch court has ruled.ThyssenKrupp had sued Arcelor/Mittal to demand that it hand over its shares in Dofasco on the basis of an earlier agreement between ThyssenKrupp and Mittal, which stipulated that Mittal hand over its shares in Dofasco to ThyssenKrupp in the event of a merger with Arcelor.Arcelor/Mittal however moved the Dofasco shares into a foundation, so ThyssenKrupp started a lawsuit against Arcelor/Mittal.However, the court in Rotterdam rejected ThyssenKrupp's claim, on the basis that Mittal cannot force its merger partner Arcelor to hand over shares of a third party in which the two merging parties have shares.kaj.leers@thomson.comkel/cmrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Arcelor Mittal will not sue Strategic Steel Stichting over Dofasco 