United States Steel to acquire 49.9% interest in Big River Steel for $700m.

United States Steel, an American integrated steel producer headquartered in Pittsburgh, agreed to acquire 49.9% interest in Big River Steel, an Arkansas-based steel producer, for $700m, with a call option to acquire the remaining 50.1% within the next four years. KM BRS and TPG Furnace, an affiliate of TPG Growth, would remain preferred equity holders of Big River. “Our new partnership with Big River is designed to accelerate our strategy to offer our customers the ‘best of both’ by bringing together the capabilities of integrated and mini mill steel production. Big River operates the most advanced, state-of-the-art and sustainable mill in North America, and our investment would ultimately strengthen our competitive positioning in highly strategic steel-end markets, creating an unmatched value proposition for our stakeholders.” David B. Burritt, President and Chief Executive Officer of US Steel.