Arcelor to complete merger requirements of EU Commission

Arcelor to complete merger requirements of EU Commission

Recent reports state that in forthcoming weeks, major European steelmaker Arcelor is going to complete its mandatory divestments under the requirements of the EU Commission at the stage of the merger Aceralia, Usinor and Arbed. The Commission allowed the merger with the condition of the seven of its galvanizing plants to be divested, thus decreasing its share in European galvanized market by 5% down to 35%. Arcelor reported that they are currently in talks with Italian Arvedi regarding the joint venture Finarvedi located in Italy, 40% of which is held by Arcelor. In case an agreement is settled, Arvedi will be taking full control of the company.