- About us
- IBJ Awards
- Free Sample
- Contact us
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.
Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai... Read more
BHP has selected Amazon Web Services (AWS) and Microsoft as long-term cloud providers to help improve... Read more
New agreements will allow Kamoa Copper to export blister and concentrate copper locally through Lualaba... Read more
Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has... Read more
The World Steel Association (worldsteel) has published the 2021 edition of World Steel in Figures. The... Read more
Hill Dickinson has further strengthened its leading commodities practice by hiring established professional... Read more
Rio Tinto has appointed Ben Wyatt as a non-executive director. Mr Wyatt, an Australian citizen, will... Read more
Rio Tinto and Comptech are partnering to bring a new generation of aluminium alloys to the market for... Read more
On welcome news of the Canadian Grain Commission’s fee reduction, effective August 1, 2021, Canada... Read more
Rusal, a leading aluminium producer, has announced that it is pursuing a demerger of its higher carbon... Read more