Nippon Steel to Sell Stake in Alabama Plant If US Steel Bid Succeeds

ArcelorMittal stated that there are no guarantees that Nippon Steel will complete its acquisition of U.S. Steel.

U.S. Steel employees rally outside the United Steel Tower in downtown Pittsburgh on Sept. 4, 2024. Gene J. Puskar/AP Photo

Japan’s Nippon Steel stated on Oct. 11 that it would sell its entire stake in a joint venture steel plant in Calvert, Alabama, if it was successful in acquiring U.S. Steel.

Nippon Steel Corp. stated that it would sell its 50 percent stake in the Calvert plant to its joint venture partner, ArcelorMittal, for $1 to clear antitrust concerns and receive “timely regulatory approval” for the U.S. Steel deal.