Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

BHP Billiton/BHP Steel Demerger to Go Ahead

Jul 2 2002

After approval by the shareholders, the Australian Federal Court and other relevant bodies, the demerger of BHP Steel from BHP Billiton is set to proceed. The official separation of the two entities will take place on July 22nd.

Eligible BHP Billiton shareholders will receive one BHP Steel share for every 5 BHP Billiton shares, held at close of business on July 5. Likewise, BHP Billiton shareholders will receive a bonus of BHP Billiton shares in accordance with the value of BHP Steel shares distributed to BHP Billiton shareholders.

For more information on steel manufacture click here.

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