SSAB divests 50 percent share in Norway’s Norsk Stål

Friday, 06 February 2015 16:59:42 (GMT+3)   |   Istanbul
       

Swedish steel producer SSAB has announced that it has received approval from the European Commission to sell 50 percent of the shares in Norway-based Norsk Stål AS to Leif Hübert AS, as part of the divestment remedies that the European Commission deemed necessary for the merger of Finnish steelmaker Rautaruukki with SSAB.
 
In July 2014, SSAB received the European Commission's approval for the merger with Rautaruukki. The approval was conditional on a commitment by SSAB to divest the following assets within what was then its Nordic Steel Distribution system and Finnish construction business: one steel service center in Sweden and one in Finland, Tibnor Oy in Finland, the 50 percent ownership interest in each of Norsk Stål AS and Norsk Stål Tynnplater AS in Norway and Plannja Oy in Finland.
 
Earlier this week, SSAB divested Plannja Oy in Finland to Metehe Oy after receiving approval for the transaction from the European Commission.

Similar articles

Sweden’s SSAB develops first carbon-free commercial steel powder

22 Mar | Steel News

Sweden’s SSAB returns to net profit in 2023

01 Feb | Steel News

Sweden’s SSAB starts construction of new EAF at Oxelösund

30 Nov | Steel News

SSAB and Fortum terminate study on fossil-free sponge iron in Raahe

06 Nov | Steel News

HYBRIT’s fossil-free hydrogen gas storage facility to cut costs by up to 40 percent

18 Oct | Steel News

Sweden’s SSAB to implement temporary layoffs at Finnish plants

14 Aug | Steel News

Sweden’s SSAB sees lower sales revenues in H1

24 Jul | Steel News

SSAB to supply fossil-free steel for automotive components

17 Jul | Steel News

SSAB and Fortum to explore production of fossil-free sponge iron in Raahe

06 Jun | Steel News

SSAB to invest in new EAF in Oxelösund plant

05 Jun | Steel News