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ArcelorMittal seeks EU clearance for Ilva buy

MILAN, April 19, 2018

ArcelorMittal, a leading integrated steel and mining company, has submitted divestment proposals to the European Commission aimed at securing EU competition clearance for its purchase of Italian steelmaker Ilva.

The proposed divestment package includes major assets including ArcelorMittal Piombino, the group's only galvanised steel plant in Italy; ArcelorMittal Galati in Romania; ArcelorMittal Skopje in Macedonia; ArcelorMittal Ostrava in Czech Republic; ArcelorMittal Dudelange in Luxembourg; Hot dipped galvanising lines 4 and 5 in Flemalle, hot-rolled pickling, cold rolling and tin packaging lines in Tilleur, all of which are in Liège, Belgium, said a statement from ArcelorMittal.

The proposal to sell these assets remains subject to final review and approval by the European Commission as well as the conclusion of the information and consultation processes with local and European works councils, the steel giant said.

Any sales would be conditional upon completion of ArcelorMittal’s acquisition of Ilva, it added.

The European Commission is expected to reach a final decision on the case by May 23.-TradeArabia News Service

Tags: | EU | ArcelorMittal | clearance | Ilva |

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