ArcelorMittal Proposes Divestments in Response to EU Review
April 13 2018 - 5:01AM
Dow Jones News
By Nathan Allen
ArcelorMittal (MT.FR) said Friday that it has proposed a package
of divestments to the European Commission in an effort to gain
approval for its intended takeover of Italian steelmaker Ilva.
The package includes ArcelorMittal Piombino, the company's only
galvanized steel plant in Italy, as well as assets in Romania,
Macedonia, the Czech Republic and Luxembourg.
ArcelorMittal also said it would divest from several specialty
steel production lines at its Flemalle and Tilleur mills in
Liege.
The European Commission opened an investigation into the deal in
November, amid concerns that it could reduce competition for flat
carbon steel products and lead to higher prices for consumers,
particularly in Southern Europe.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 13, 2018 04:46 ET (08:46 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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