The European Commission (EC) has announced that it has approved the acquisition of Hungary-based steel producer Dunaferr and its coke supplier ISD Kokszoló by UK-based steelmaker Liberty Steel. The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited market positions resulting from the proposed transaction.
Liberty Steel paid about HUF 20 billion (€51.65 million) to acquire Dunaferr in a liquidation procedure this summer. “We are now working at pace to complete the transaction as quickly as possible,” a Liberty Steel spokesperson commented.
Liberty Steel has been working closely with Dunaferr to help restart the latter’s blast furnace No. 2, meltshop and cold rolling mill, as SteelOrbis previously reported.
