Spin-off

The spin-off of the stainless business from ArcelorMittal was proposed to the ArcelorMittal shareholders at an Extraordinary General Meeting in Luxembourg on 25 January 2011. The ArcelorMitttal shareholders approved the transaction. As a result, they became shareholders of the new company, Aperam, at an exchange ratio of 20 ArcelorMittal shares for 1 share of the new company. The new company has been headquartered in Luxembourg and listed on the European stock exchanges of Amsterdam and Paris (Euronext) and in Luxembourg. In the United States, Aperam is traded on the over-the-counter market in the form of New York Registry Shares. The shares are part of the Euronext Amsterdam’s AEX index.

Timetable of the spin off

25 January 2011 (2.00 pm CET)
Extraordinary general meeting of the shareholders of Aperam to approve the spin-off proposal (projet de scission partielle) and the report (rapport écrit détaillé) on the spin-off proposal prepared by the board of directors of Aperam and, issue the new ordinary shares of Aperam and to allot the new ordinary shares of Aperam to the ArcelorMittal shareholders on record.

26 January 2011
Ex-date for ArcelorMittal shares
Start trading of Aperam new shares on "as if and when issued" (AIW) basis

28 January 2011 (close of business)
Record date spin-off ArcelorMittal - Final eligible positions to allocate Aperam shares

31 January 2011
Allocation of the Aperam shares within the European and the New York registries through Euroclear Nederland's admitted institutions

31 January 2011
Initial settlement date of the new shares
First day of irrevocable trading / listing of Aperam shares (Euronext Amsterdam, Euronext Paris, Luxembourg Stock Exchange)

31 January 2011
Cash settlement date for the fractional shares

Shareholder documentation to the spin off:

  • Letter from the Chairman and CEO
    • in Brazilian pdf icon
    • in Dutch pdf icon
    • in English pdf icon
    • in French pdf icon
    • in Spanish pdf icon
  • Listing prospectus (in English) pdf icon (11Mo)
  • Summary of the Prospectus
    • English pdf icon
    • French pdf icon
    • Spanish pdf icon
  • Technical Information Memorandum to members of NYSE Euronext and admitted institutions of Euroclear Nederland pdf icon
  • Spin-Off Proposal (in English and French) pdf icon
  • The report prepared by the boards of directors of ARCELORMITTAL and of APERAM on the Spin-Off Proposal (in English) pdf icon
  • The reports prepared by an independent auditor (PricewaterhouseCoopers) on the Spin-Off Proposal in accordance with article 294 of the Luxembourg law of 10 August 1915 on commercial companies, as amended (the “Law”) (in English) pdf icon pdf icon
  • The audited opening balance sheet of APERAM as at September 9, 2010. pdf icon
  • Convening notice:
    • English pdf icon
    • French pdf icon
    • Spanish pdf icon
  • Information letter for Spanish shareholders pdf icon
  • The following are only for holders of New York Registry Shares:
    • Us voting and proxy formpdf icon
    • New York Registry Buckslippdf icon
    • US Information Statement pdf icon
  • ArcelorMittal Annual report (English):
    • 2007 pdf icon
    • 2008 pdf icon
    • 2009:
      • Management Report pdf icon
      • Financial information pdf icon