ArcelorMittal in Sale of Steel Cord Business to Kiswire, Ltd.

Cleary Gottlieb is representing ArcelorMittal in the sale of certain of its steel cord business in Asia, the United States and Europe to Kiswire Ltd., a Korean steel cord manufacturer and distributor. The transaction includes the sale of ArcelorMittal’s stake in a Korean steel cord joint venture with Kiswire. The deal was signed on December 9 and is expected to close early in the second quarter of 2014.