ArcelorMittal Said to Further Cut Stake in Turkey’s Erdemir

ArcelorMittal SA, the world’s biggest steelmaker, has further reduced its stake in Turkey’s Erdemir this week, leaving it with just 2% of the company, according to people with knowledge of the matter.

Arcelor sold about half of the shares it held in Eregli Demir ve Celik Fabrikalari TAS — as the Turkish steelmaker is officially known — acting mainly via two local brokerages, said the people who didn’t want to be named because the transaction has not been officially disclosed.