Arcelormit­tal to sell as­sets

Financial Mail - - MARKET WATCH -

Arcelormit­tal, the world’s largest steel pro­ducer, will sell its steel­mak­ing fa­cil­i­ties in the Czech Re­pub­lic, Ro­ma­nia, Mace­do­nia and Italy to Lib­erty House, it said on Fri­day.

The sales sat­isfy part of an agree­ment with the Euro­pean Com­mis­sion re­lated to Arcelormit­tal’s ac­qui­si­tion of Ital­ian steel­maker Ilva.

The com­mis­sion ap­proved the bid for Europe’s big­gest steel plant by ca­pac­ity in May af­ter Arcelormit­tal pledged to sell a string of busi­nesses across Europe to ad­dress com­pe­ti­tion con­cerns. Talks con­tinue for the sale of other as­sets in­cluded in the agree­ment with the Euro­pean Com­mis­sion.

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