The European Commission has announced that it has approved Ukrainian steel and mining group Metinvest’s takeover of Romania-based ArcelorMittal Tubular Products Iasi S.A. (AMTP Iasi). The Ukrainian steel and mining group had applied for the acquisition in October this year, as previously reported by SteelOrbis.
No competition risks in tube segment
The transaction involves Metinvest gaining sole control over AMTP Iasi, a Romanian producer of small welded carbon steel tubes. After examining the companies’ combined market presence in the relevant product segments, the Commission concluded that the merger would not significantly impede competition.
