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
Rio Tinto expands Pilbara presence with new Karratha Hub
(Posted on 16/10/21)Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core... Read more
Collaboration for first carbon neutral copper cathode delivery
(Posted on 13/10/21)BHP and leading US copper cable and wire manufacturer, Southwire, have completed their first ‘... Read more
Carbon tracking for Trafigura’s nickel and cobalt trading
(Posted on 11/10/21)Trafigura Pte Ltd, one of the world’s largest physical commodity trading companies, and Circulor... Read more
Rusal and TransContainer develop green logistics
(Posted on 11/10/21)RUSAL, a leading global aluminium producer and PJSC TransContainer (part of the DELO Group), an intermodal... Read more
Host joins IIMA
(Posted on 04/10/21)The International Iron Metallica Association has welcomed Host as the latest member to join its community... Read more
First Mill E3 set to revolutionize the milling industry
(Posted on 29/09/21)Bühler is announcing a transformative moment in the history of flour milling with the opening of... Read more
First Mill E3 set to revolutionize the milling industry
(Posted on 29/09/21)Bühler is announcing a transformative moment in the history of flour milling with the opening of... Read more
Rio Tinto triples Weipa bauxite mine solar capacity
(Posted on 21/09/21)Rio Tinto has approved a new solar farm and battery storage at Weipa in Queensland, in a move that will... Read more
Trafigura raises USD400 million US Dollar Bond
(Posted on 21/09/21)Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has... Read more
Rio Tinto teams with Caterpillar for zero-emissions autonomous trucks
(Posted on 16/09/21)Rio Tinto and Caterpillar have signed a Memorandum of Understanding (MoU) for Caterpillar’s development... Read more
