Cyprus-Forum.com

[GAVCARoCOM]

I m going to buy some shares and i wanted to know is any shares is better then this investment cos for me it seems this is the best company .


ArcelorMittal raises shares in Erdemir to 24 percent


ArcelorMittal, the world's largest steel company, is engaged in a share-purchasing competition with Oyak, which controls Turkey's biggest steelmaker, Ereğli Demir Çelik, commonly known as Erdemir.
After an unsuccessful bid to take over the formerly state-owned Erdemir in 2005, ArcelorMittal paid $1.3 billion to increase its stake in the Turkish steel producer. A company statement announced yesterday it had paid $869 million, buying 24.99 percent of the company.

The company is known for its aggressive share buyback program, which saw ArcelorMittal spend $1.1 billion in the first quarter to repurchase 16.3 million shares on the open market in 2007.

Ordu Yardımlaşma Kurumu, or Oyak, an army pension fund, has controlled Erdemir since it bought a 49 percent stake in the steelmaker from the government for $3 billion in 2005. Oyak CEO Coşkun Ulusoy said on Saturday that the fund had subsequently increased its stake in Erdemir to over 50 percent, without giving an exact figure.

Luxembourg-based steelmaker ArcelorMittal said it paid YTL 8.4 ($6.74) a share on June 13 to Societe Generale, Nextgen Capital Ltd. and Credit Suisse International for the Erdemir stake. Erdemir advanced by as much as YKr 60, or 6.9 percent, to YTL 9.30 in İstanbul.

Oyak had initially planned to buy Erdemir in partnership with ArcelorMittal but proceeded alone, although it said later that it could still take on a partner.

"At the beginning we wondered whether perhaps it would be good to have a partner with international experience," Ulusoy said, adding that the aim of searching for a partner had not been to get financing. "Our thoughts about a partnership were never carried out, and that matter was closed. Now there is no question of us taking on a partner," he said.

Turkish steelmaker Erdemir is expected to show a net profit of around YTL 1 billion ($800 million) this year, the CEO of parent company Oyak Group said, up from YTL 679 million in 2007. He also said a $3 billion expansion of its smelter in İskenderun in southern Turkey to increase the company's output of flat steel products was almost complete.

[GAVCARoCOM]

seems erdemir is the best

[GAVCARoCOM]

is any roc shares on the stockmarket ?

[GAVCARoCOM]

Today Italian Chement factory Cementeria Aldo Barbetti, bought 30% of Çimko Çimento and Beton Sanayi who belong to SANKO plc for 400 million dollars .



i have to be quick

[dinos]

Don't waste your money chasing mergers. I heard some guys at 28 Oxford St in London are giving away prizes of 245000 GBP. You have to act fast, though.