IDC mulls bigger AMSA stake after granting R1.68bn loan to halt longs closure for six months

Steel group ArcelorMittal South Africa (AMSA) has confirmed that the Industrial Development Corporation (IDC) is considering taking a larger equity stake in the JSE-listed group and will conduct a due diligence over the coming six months to assess its position. This, after a deal was reached to again defer the winding down of AMSA’s long-steel businesses – this time for six months.