ArcelorMittal completes sale of several European steelmaking assets to Liberty House Group
July 01 2019 - 2:00AM
1 July 2019, 08:00 CET
ArcelorMittal (‘the Company’) announces that
yesterday it completed the sale to Liberty House Group (‘Liberty’)
of several steelmaking assets that form the divestment package the
Company agreed with the European Commission (‘EC’) during its
merger control investigation into the Company’s acquisition of Ilva
S.p.A.
Assets included within the divestment package
are: ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati
(Romania), ArcelorMittal Skopje (Macedonia), ArcelorMittal Piombino
(Italy), ArcelorMittal Dudelange (Luxembourg) and several finishing
lines at ArcelorMittal Liège (Belgium).
The total net consideration for the assets payable to
ArcelorMittal is €740 million. €610 million was received on 28
June. The Company is required to deposit €110 million in
escrow to be used by Liberty for certain capital expenditure
projects as part of the EC approval process.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and
mining company, with a presence in 60 countries and an industrial
footprint in 18 countries. Guided by a philosophy to produce safe,
sustainable steel, we are the leading supplier of quality steel in
the major global steel markets including automotive, construction,
household appliances and packaging, with world-class research and
development and outstanding distribution networks.
Through our core values of sustainability,
quality and leadership, we operate responsibly with respect to the
health, safety and wellbeing of our employees, contractors and the
communities in which we operate.
For us, steel is the fabric of life, as it is at
the heart of the modern world from railways to cars and washing
machines. We are actively researching and producing steel-based
technologies and solutions that make many of the products and
components people use in their everyday lives more energy
efficient.
We are one of the world’s five largest producers
of iron ore and metallurgical coal. With a geographically
diversified portfolio of iron ore and coal assets, we are
strategically positioned to serve our network of steel plants and
the external global market. While our steel operations are
important customers, our supply to the external market is
increasing as we grow.
In 2018, ArcelorMittal had revenues of $76.0
billion and crude steel production of 92.5 million metric tonnes,
while own iron ore production reached 58.5 million metric
tonnes.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS). For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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Contact information ArcelorMittal Investor
Relations |
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Europe |
+44 20 7543 1156 |
Americas |
+1 312 899 3985 |
Retail |
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Bonds/Credit |
+33 171 921 026 |
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Contact information ArcelorMittal Corporate
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E-mail: |
press@arcelormittal.com |
Phone: |
+442076297988 |
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ArcelorMittal Corporate Communications |
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Paul Weigh |
+44 20 3214 2419 |
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