Lib­erty to buy Eu­ro­pean steel plants

The National - News - - BUSINESS -

Bri­tish-owned Lib­erty, part of San­jeev Gupta’s global GFG Al­liance, signed a con­di­tional agree­ment to buy four Eu­ro­pean steel plants, em­ploy­ing more than 12,500 peo­ple, putting it­self at the heart of the con­ti­nent’s steel in­dus­try. In a trans­ac­tion tak­ing Lib­erty’s to­tal rolling ca­pac­ity to more than 15 mil­lion tonnes a year, Lib­erty made a bind­ing of­fer to buy ArcelorMit­tal’s ma­jor in­te­grated works at Galati in Ro­ma­nia and Os­trava in the Czech Repub­lic, along with rolling mills at Skopje in Mace­do­nia and Piom­bino in Italy. The four ad­di­tional sites be­tween them have a com­bined rolling ca­pac­ity of about 8 mil­lion tonnes a year.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.