Nippon Steel Corp. said Friday that it will sell its entire 50 percent stake in the U.S.-based joint venture steel plant it set up with a European company if the Japanese firm's planned takeover of United States Steel Corp.

CETArcelorMittal (the “Company”, “Group”) announces it has entered into a definitive Equity Purchase Agreement (the

ArcelorMittal agreed to purchase Nippon Steel Corporation's 50% stake in the steel companies' U.S. joint venture Calvert. Luxembourg-based ArcelorMittal said it entered into the agreement to allay regulatory concerns related to Nippon's agreed purchase of US Steel.