ArcelorMittal, Nippon Steel to buy Thyssen U.S. plant for $1.55 billion

FRANKFURT (Reuters) - Arcelormittal and Nippon Steel & Sumitomo Metal Corp <5401.T> agreed to buy ThyssenKrupp's steel plant in the United States for $1.55 billion, ArcelorMittal said late on Friday.

The transaction will be financed through a combination of equity and debt at the joint venture level and will yield $60 million of annual savings, it said.

The deal includes a six-year agreement to purchase 2 million tons of steel slab per year from ThyssenKrupp's CSA steel mill in Brazil.

(Reporting by Maria Sheahan; Editing by Jonathan Gould)

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