Lib­erty to buy ArcelorMit­tal’s Euro­pean as­sets

The Hindu Business Line - - FRONT PAGE - VIDYA RAM

San­jeev Gupta’s steel group Lib­erty is set to ac­quire the Euro­pean as­sets of ArcelorMit­tal, as it pushes for ex­pan­sion on the Euro­pean main­land.

The as­sets in­clude ArcelorMit­tal’s in­te­grated steel works in Ro­ma­nia and the Czech Repub­lic as well as rolling mills in Mace­do­nia and Italy. The ac­qui­si­tion will take Lib­erty’s steel rolling ca­pac­ity in Europe to around 10.5 mil­lion tonnes a year.

The deal — sub­ject to a con­di­tional agree­ment fol­low­ing a bind­ing of­fer from Lib­erty — will also be an im­por­tant step for ArcelorMit­tal.

The Euro­pean Com­pe­ti­tion Com­mis­sion had stip­u­lated the dis­posal of cer­tain as­sets as part of ArcelorMit­tal’s planned ac­qui­si­tion of Italy’s Ilva.

De­tails

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