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BRIEF-Nippon Steel Executive Equity Sale In Calvert JV Was Necessary To Clear Competition Regulation Review Over U.S. Steel Acquisition Deal
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BRIEF-Nippon Steel Executive Equity Sale In Calvert JV Was Necessary To Clear Competition Regulation Review Over U.S. Steel Acquisition Deal
Oct 11, 2024 2:02 AM

Oct 11 (Reuters) - Nippon Steel Corp ( NISTF ):

* NIPPON STEEL ( NISTF ) EXECUTIVE: STILL AIMING TO CLOSE PLANNED

ACQUISITION OF U.S. STEEL LATER THIS YEAR

* NIPPON STEEL ( NISTF ) EXECUTIVE: SALE OF EQUITY STAKE IN AM/NS

CALVERT

JV WAS DETERMINED ON OUR OWN FOLLOWING DIALOGUE WITH U.S.

AUTHORITIES REGARDING PLANNED U.S. STEEL ACQUISITION

* NIPPON STEEL ( NISTF ) EXECUTIVE: EQUITY SALE IN CALVERT JV WAS

NECESSARY TO CLEAR COMPETITION REGULATION REVIEW OVER U.S. STEEL

ACQUISITION DEAL

* NIPPON STEEL ( NISTF ) EXECUTIVE: DECISION TO SELL STAKE IN

CALVERT JV

WILL MOVE US FORWARD TO COMPLETING U.S. STEEL ACQUISITION

* NIPPON STEEL ( NISTF ) EXECUTIVE: SALE OF OUR STAKE IN CALVERT JV

WILL

NOT AFFECT OUR JV WITH ARCELORMITTAL IN INDIA

* NIPPON STEEL ( NISTF ) EXECUTIVE: DECIDED TO PRIORITISE ACQUISITION

OF

U.S. STEEL IN ORDER TO STRENGTHEN OUR BUSINESS IN NORTH AMERICA

* NIPPON STEEL ( NISTF ) EXECUTIVE: BELIEVE SALE OF STAKE IN CALVERT

JV

WILL RESOLVE ANTITRUST CONCERNS U.S. STEEL ACQUISITION DEAL

* NIPPON STEEL ( NISTF ) EXECUTIVE: U.S. ANTITRUST REVIEW IN OUR U.S.

STEEL

ACQUISITION DEAL IS STILL CONTINUING

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