Arcelor Mittal has entered into negotiations with investment banks, led by Goldman Sachs, to sell its stainless business, according to a London banking source. Goldman Sachs; Credit Suisse; Société Générale and Citigroup have been preparing mandates for the sale of the business. The process of selling the business has not yet started. According to the banking source they first have to sort out Acesita in Brazil, as well as sell Dofasco and satisfy the anti-trust laws that are part of the purchase of Arcelor, then they have to complete the transaction of Arcelor Mittal.
