Behind every billionaire there is a story!

French Billionaire sells out of Mittal to fund a bank in Poland

For French billionaire Romain Zaleski, one of the key shareholders in global steel behemoth ArcelorMittal, making $1.8 billion is all in a day’s work.

Zaleski’s Italian holding company, Carlo Tassara, said on Wednesday it had raked in 1.2 billion euros ($1.8 billion) from the sale of 25 million ArcelorMittal shares, at a price of 46.60 euros ($68.48) per share. Zaleski’s stake is now slightly under 3%, down from 4.4%.  Romain Zaleski was an integral part of the long-running takeover of Luxembourg’s Arcelor by Indian steel tycoon Lakshmi Mittal. As the controlling shareholder of Arcelor, his backing for a tie-up with Mittal proved decisive at a time when Russia’s Severstal was seen as a potential alternative.

read the rest published by Forbes here:

http://www.forbes.com/markets/2008/02/20/zaleski-mittal-steel-markets-equity-cx_ll_0220markets14.html?feed=rss_markets