Arcelor&Condesa deal is still pending

Arcelor&Condesa deal is still pending

Industry sources reported that, the agreement between European steel giant Arcelor and Spanish Coducciones y Derivados, SA (Condesa) is to be signed at the end of November, it may even be deferred to early December. The agreement related with sales of Arcelor's welded tube mills to Condesa, was initially announced in July and the transactions were stated to be completed by mid-October. Arcelor officials expressed that the company will sign the agreement to sell its shares in six tube mills. One of the mills is Condesa in which Arcelor possesses 49% shares.