Spin-off

Aperam was spun-off from ArcelorMittal in January 2011.

At an Extraordinary General Meeting held in Luxembourg on 25 January 2011, ArcelorMittal shareholders approved the spin-off of the company’s stainless business. As a result, they became shareholders of Aperam, a new company with an exchange ratio of 20 to 1.

Headquartered in Luxembourg, Aperam is listed on the European stock exchanges of Amsterdam and Paris (Euronext) and in Luxembourg. In the US, the company is traded as New York Registry Shares on the over-the-counter market. The shares are part of the Euronext Amsterdam’s AEX index.  

Spin-off Timeline

25 Jan. 2011At 14:00 CET, ArcelorMittal shareholders approve spin-off proposal and report on the proposal during an extraordinary general meeting. New ordinary shares for Aperam are issued and allotted to ArcelorMittal shareholders on record.
26 Jan. 2011Ex-date for ArcelorMittal shares. New Aperam shares start trading on ‘as if and when’ (AIW) basis.
28 Jan. 2011COB marks record date spin-off, final eligible positions to allocate Aperam shares.
31 Jan. 2011
  • Aperam shares allocated within European and New York registries via Euroclear Nederland’s admitted institutions.
  • Initial settlement date of new shares.
  • First day of irrevocable trading/listing of Aperam shares (Euronext Amsterdam, Euronext Paris, Luxembourg Stock Exchange).
  • Cash settlement date for fractional shares.

Spin-off Related Documentation

General Documents

  • Letter from Chairman and CEO PT NL EN FR ES
  • 11 Month Listing Prospectus EN
  • Summary of Prospectus EN FR ES
  • Technical Information Memorandum to Members of NYSE Euronext and Admitted Institutions of Euroclear Nederland EN
  • Spin-Off Proposal EN / FR
  • Report Prepared by the Boards of Directors of ArcelorMittal and Aperam on the Spin-Off Proposal EN
  • 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”) (EN)  
  • Audited Opening Balance sheet of Aperam as of September 9, 2010 EN - Aperam EN - ArcelorMittal
  • Convening Notice EN FR ES
  • Information Letter for Spanish Shareholders ES

Documents for holders of New York Registry Shares

  • US Voting and Proxy Form EN
  • New York Registry Buckslip EN
  • US Information Statement EN

ArcelorMittal Annual Reports