ArcelorMittal sale of several European assets
(Posted on 07/07/19)
ArcelorMittal has announced that it completed the sale to Liberty House Group of several steelmaking assets that form the divestment package the Company agreed with the European Commission during its merger control investigation into the Company’s acquisition of Ilva S.p.A.
Assets included within the divestment package are: ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia), ArcelorMittal Piombino (Italy), ArcelorMittal Dudelange (Luxembourg) and several finishing lines at ArcelorMittal Liège (Belgium).
The total net consideration for the assets payable to ArcelorMittal is €740 million. €610 million was received on 28 June. The Company is required to deposit €110 million in escrow to be used by Liberty for certain capital expenditure projects as part of the EC approval process.
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, the company is the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
Latest News
BHP to reduce emissions at Nickel West
(Posted on 25/10/20)BHP has executed a 15-year contract extension to its power purchase agreement (PPA) with energy provider... Read more
Rio Tinto learns to live with Covid-19
(Posted on 18/10/20)Rio Tinto has released its third quarter production results.Chief Executive J-S Jacques said “... Read more
WCA supports IEA call for inclusivity
(Posted on 16/10/20)Michelle Manook, Chief Executive, World Coal Association (WCA) has issued a statement on the World Energy... Read more
New Argentine frac sand plant selects Superior
(Posted on 12/10/20)Superior Industries, Inc., a global manufacturer and supplier of bulk material processing and handling... Read more
Rusal smelter to switch to eco-friendly pitch
(Posted on 12/10/20)As part of its environmental modernization program, by 2024 RUSAL, a leading global aluminium producer... Read more
Latest grain movement record for CN
(Posted on 07/10/20)As the North American economy continues its recovery, CN is pleased to announce that its people moved... Read more
FLSmidth to acquire KnowledgeScape
(Posted on 07/10/20)FLSmidth has confirmed the signing of a definitive agreement for the acquisition of KnowledgeScape,... Read more
BHP Australian apprenticeship pledge
(Posted on 02/10/20)BHP CEO Mike Henry has announced BHP’s commitment to training and funding for 3,500 new Australian... Read more
U.S. agriculture urges Trump to remain in WTO
(Posted on 28/09/20)The National Grain and Feed Association (NGFA) in the USA and 61 other U.S. agriculture stakeholders... Read more
Rusal completes domiciliation process
(Posted on 27/09/20)RUSAL, a leading global aluminium producer, has announced that it has been registered as a new resident... Read more
