 "ArcelorMittal sells 78% stake in ATIC to HES Beheer")
"ArcelorMittal and HES Beheer NV have signed a sale and purchase agreement for the sale of ArcelorMittal's 78% stake in European port handling and logistics company ATIC Services S A to HES Beheer," the steelmaker said in a statement.
The transaction is subject to the customary closing conditions and is expected to be completed in June 2014, ArcelorMittal said.
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It added that "the transaction is consistent with ArcelorMittal's stated strategy of selective divestment of non-core assets", but did not disclosed the value of the transaction.
HES Beheer, which offers port services for bulk products, currently holds 22% in ATIC and after the transaction with ArcelorMittal, it would have 100% ownership.
HES Beheer provides stevedoring, storage, processing services for dry and liquid bulk products, which includes raw materials for industries like energy, steel and aluminium.
The HES group companies handle 60-70 million tonnes of products a year and its activities are mainly concentrated in the Netherlands.
ATIC Services is a European leader covering the entire logistics chain associated with the coal activity, bulk logistics as well as iron and steel products.