Arcelor completes divestment of shares in Finarvedi
Recent market reports state that Arcelor completed its mandatory divestments under the framework of its merger conditions set forth by the EU Commission through the sale of its 39.9% shares in Italian joint venture Finarvedi. With the Commission approving the divestment, Arvedi has now taken full control of the company. It is stressed that this transaction will not affect the ongoing or new business relations between Arcelor and Arvedi. Additionally, Arvedi reported that they have completed their investment program, which consists of technological and process modernization, improving company's economic performance as well as competitiveness. Arvedi, turnover of which reportedly rose by 60% in the last ten years, is pretty optimistic for the current year.