ArcelorMittal: EU approves Liberty's purchase of factories
(CercleFinance.com) - The European Commission has approved the designation of the Liberty House group as the buyer of some of ArcelorMittal's steel plants.
These plants are being sold as part of ArcelorMittal's commitments for it to acquire Ilva. In May 2018, the Commission authorised ArcelorMittal's acquisition of Ilva, subject to certain conditions.
ArcelorMittal has notably been required to sell a large number of assets, i.e. steel factories. This sale alleviates the Commission's concerns about competition levels in the European markets for hot-rolled and cold-rolled and galvanised carbon steel products.
ArcelorMittal has committed to divest several production sites across Europe. These include an integrated steel mill in Galati, Romania, an integrated steel mill in Ostrava, Czech Republic, finishing plants in Italy, Belgium, Luxembourg and North Macedonia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
These plants are being sold as part of ArcelorMittal's commitments for it to acquire Ilva. In May 2018, the Commission authorised ArcelorMittal's acquisition of Ilva, subject to certain conditions.
ArcelorMittal has notably been required to sell a large number of assets, i.e. steel factories. This sale alleviates the Commission's concerns about competition levels in the European markets for hot-rolled and cold-rolled and galvanised carbon steel products.
ArcelorMittal has committed to divest several production sites across Europe. These include an integrated steel mill in Galati, Romania, an integrated steel mill in Ostrava, Czech Republic, finishing plants in Italy, Belgium, Luxembourg and North Macedonia.
Copyright (c) 2019 CercleFinance.com. All rights reserved.