ArcelorMittal reaches agreement with Liberty House for sale of steelmaking facilities in Czech Republic, Romania, Macedonia and Italy
ArcelorMittal announced that it has received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy). The four assets are part of a divestment package the Company agreed with the European Commission during its merger control investigation into the Company’s acquisition of Ilva SpA. Transaction closing is subject to the completion of the Company’s acquisition of Ilva, and conditional on EU approval and the conclusion of information consultations with local and European Works Councils.
It added “Negotiations are ongoing with parties regarding the sale of the other assets, ArcelorMittal Dudelange in Luxembourg, and several finishing lines in Liege, Belgium. included in the divestment package.
ArcelorMittal had announced in April that, as part of the ongoing European Commission review into its acquisition of Ilva, it submitted a proposed divestment package to the EC to address concerns the EC has raised during its review. The proposed divestment package includes the following assets:
ArcelorMittal Piombino, the Company’s only galvanised steel plant in Italy
ArcelorMittal Galati, Romania
ArcelorMittal Skopje, Macedonia
ArcelorMittal Ostrava, Czech Republic
ArcelorMittal Dudelange, 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.
Source : Strategic Research Institute