The European Commission has approved Liberty House Group as a suitable purchaser of several ArcelorMittal steel plants, sold under commitments made by ArcelorMittal in order to buy Ilva. The Commission has also approved the transaction itself under EU merger rules.
In May 2018, the Commission approved the acquisition of Ilva by ArcelorMittal, subject to conditions. In particular, ArcelorMittal was required to sell a large package of steel plant assets to a suitable purchaser. The divestiture was proposed by ArcelorMittal to address the Commission’s concerns regarding effective competition in European hot rolled, cold rolled, and galvanised flat carbon steel markets.
The package of assets that ArcelorMittal chose and committed to divest consists of a number of production sites throughout Europe. These include:
-
An integrated steelworks in Galati, Romania;
-
An integrated steelworks in Ostrava, Czechia;
-
Finishing plants in Italy, Belgium, Luxembourg, and North Macedonia.
The divested production sites cover the whole value chain, from liquid steel manufacturing to the production of finished flat carbon steel products, including hot rolled, cold rolled, and galvanised steel. Thus, the divestment includes not only finishing lines but capacity for the production of liquid steel at two integrated steelworks that are also able to expand their production.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
OpenAI Board Denies Receiving Formal Bid from Elon Musk
Feb 12, 2025 by
CPI
Thomas Kauper, Former DOJ Antitrust Leader, Dies at 89
Feb 12, 2025 by
CPI
BlackRock’s Acquisition of Preqin Secures UK Regulatory Approval
Feb 12, 2025 by
CPI
NFL Sued Over Bluesky Ban by Fans Citing Antitrust Violations
Feb 12, 2025 by
CPI
Warburg Pincus Strikes $1 Billion Deal to Acquire Vermont Information Processing
Feb 12, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon