Bidder's Statement - Peabody Energy

ecame Vice President for Finance ten years later and in 2007
became Chairman and Chief Executive Officer. Before this, Mr. Lafont
had been working as the Group Chief Operating Officer. On becoming
the Chief Executive Officer, he launched the “Excellence 2008”
strategic plan, aimed at making Lafarge the best in its sector.
In December 2008, he announced the acquisition of Orascom
Cement, the leading cement player in the Middle East and the
Mediterranean basin, therefore accelerating Lafarge’s development in
emerging markets.
Mr. Lafont is the co-chairman of the World Business Council for
Sustainable Development’s Cement Sustainability Initiative, which
brings together major cement companies from around the world. He
also co-chairs the Energy Efficiency in Buildings initiative launched
with United Technologies under the aegis of the World Business
Council for Sustainable Development. He is a special adviser to the
mayor of Chongqing, a Chinese city with 32 million inhabitants.
Mr. Lafont is a member of the board of directors of Electrìté de
France, the largest French electricity utility.
5.5 Historical financial information
on ArcelorMittal
(a) Basis of presentation
The historical financial information presented below is a summary
only and the full financial accounts for ArcelorMittal for the
financial periods described below, which include the notes to
the accounts, can be found in ArcelorMittal’s Annual Report for
the year ended 31 December 2010 and ArcelorMittal’s interim
financial report that sets forth the financial results of ArcelorMittal
for the 6 months ended 30 June 2011.
(b) Consolidated balance sheets
The consolidated balance sheets of ArcelorMittal as at
31 December 2010 and 30 June 2011 presented below have
been extracted from the consolidated financial statements in
ArcelorMittal’s interim financial report for the half year ended
30 June 2011. These statements were prepared in accordance
with International Financial Reporting Standards as issued by
the International Accounting Standards Board (not the Australian
equivalents to IFRS). No review has been undertaken to identify
accounting policy differences between the two. The dollar
amounts are presented in U.S. dollars.
Consolidated
31 December 2010
(in millions of US$)
(unaudited)
30 June 2011
(in millions of US$)
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents 6,207 3,126
Restricted cash 82 79
Trade accounts receivable and other (including 616 and 736 from related parties
at 31 December 2010 and 30 June 2011, respectively) 5,725 8,625
Inventories (note 4) 19,583 23,920
Prepaid expenses and other current assets 4,160 4,376
Assets held for sale and distribution (note 5) 6,918 –
Total current assets 42,675 40,126
Non-current assets:
Goodwill and intangible assets 14,373 15,134
Property, plant and equipment 54,344 56,124
Investments in associates and joint ventures (note 8) 10,152 10,951
Other investments 267 316
Deferred tax assets 6,603 7,884
Other assets 2,490 2,984
Total non-current assets 88,229 93,393
Total assets 130,904 133,519
23