The European Commission (EC) has announced that it has approved the acquisition of Latvia-based SIA Severstal Distribution from Russian steelmaker Severstal by Marcegaglia Carbon Steel, a subsidiary of Italian steel processor Marcegaglia Group.
The commission concluded that the acquisition would not raise competition concerns.
The transaction will involve Severstal Distribution’s Poland-based subsidiary Severstal Distribution Sp.z.o.o. and Ukraine-based subsidiary Severstal Distribution OOO, as SteelOrbis previously reported.
