UK-based steelmaker Liberty Steel’s offer to acquire Hungary-based steel producer Dunaferr, which was under a liquidation process, has been accepted, a company spokesperson told SteelOrbis. The company will now work with the liquidator to sign the purchase agreement.
“The addition of Dunaferr into the Liberty group, subject to the closing of the transaction and regulatory approval, will create significant positive operational and commercial synergies by linking Liberty’s high quality upstream businesses in Romania, Poland and the Czech Republic more closely with Dunaferr’s high quality downstream business for the benefit of customers across Hungary and Europe,” the spokesperson stated.
Liberty Steel has been working closely with Dunaferr over the last six months, improving its commercial performance and ensuring the continuity of the business. In February, Dunaferr restarted its blast furnace No. 2 with the help of Liberty Steel, as SteelOrbis previously reported.