The EU antitrust authority will decide by July 9 whether to approve the acquisition of the majority shares of Liberty Steel Group’s two French steel plants at Ascoval and Hayange by Luxembourg-headquartered steel giant ArcelorMittal, according to Reuters.
On June 4, ArcelorMittal applied for approval from the EU for the acquisition. The EU may approve the acquisition or launch a four-month long investigation in the event of serious concerns, as SteelOrbis understands.
The Hayange plant has an annual capacity of 300,000 mt of rails, while Ascoval has an annual production capacity of 600,000 mt of steel blooms, billets and other forged products from recycled scrap.