# ArcelorMittal’s exclusive negotiations with the Industrial Development Corporation over the sale of its local steel operations have ended without an agreement. The IDC’s 8.5-billion-rand informal offer failed to resolve the impasse, leaving ArcelorMittal South Africa free to seek other investors. AMSA says engagements to explore alternatives are ongoing as talks continue on a possible phased takeover. This follows recent plant closures in Newcastle KwaZulu-Natal and Vereeniging in Gauteng.
ArcelorMittal’s talks with IDC collapse, seeks new investors