ArcelorMittal submits proposed divestment package to EC as part of Ilva deal

Friday, 13 April 2018 15:16:43 (GMT+3)   |   Istanbul
       

Global steel giant ArcelorMittal has announced that, as part of the ongoing European Commission (EC) review into its acquisition of Italian steelmaker Ilva, it has submitted a proposed divestment package to the EC to address concerns the EC has raised during its review. The proposed divestment package includes ArcelorMittal Piombino, the company’s only galvanized steel plant in Italy, ArcelorMittal Skopje in Macedonia, ArcelorMittal Ostrava in the Czech Republic, ArcelorMittal Dudelange in Luxembourg, ArcelorMittal Galati in Romania and hot dip galvanizing lines Nos. 4 and 5 in Flemalle, and hot rolled pickling, cold rolling and tin packaging lines in Tilleur, all of which are in Liège, Belgium.

The company stated that the proposal to sell these assets remains subject to a final review and approval by the EC as well as the conclusion of the information and consultation processes with local and European works councils. Any sales would be conditional upon completion of ArcelorMittal’s acquisition of Ilva. The EC is expected to reach a final decision on the case by May 23.


Similar articles

ArcelorMittal reaches deal with unions over recruitment plan for Ilva takeover

07 Sep | Steel News

Italy expects better proposal for Ilva regarding environment and jobs

11 Jul | Steel News

European Commission approves ArcelorMittal's acquisition of Ilva

07 May | Steel News

EU antitrust regulators push back their decision on Ilva sale

27 Feb | Steel News

EU antitrust regulators to decide on Ilva sale to AM InvestCo after Italian elections

22 Feb | Steel News

CDP could join AM InvestCo Italy's bid to buy Ilva, Marcegaglia could exit

18 Dec | Steel News

AM Investco inks binding agreement with Italian government for purchase of Ilva

19 Jun | Steel News

ArcelorMittal and Marcegaglia submit offer for Ilva

30 Jun | Steel News

ArcelorMittal reaches deal with unions over recruitment plan for Ilva takeover

07 Sep | Steel News

Italy expects better proposal for Ilva regarding environment and jobs

11 Jul | Steel News