A court in Liège has rejected bids from Luxembourg-based ArcelorMittal, Italy-based Marcegaglia and Romania-based Liberty Steel Galati to acquire Belgium-based Liberty Liège’s Flémalle and Tilleur plants, according to local media reports.
The bids of ArcelorMittal and Marcegaglia’s bids were considered to be discriminatory as the companies wanted to take over only 127 and 97 workers, respectively. Although Liberty Galati wanted to take over all the assets and 582 workers, this bid was also rejected as the company did not provide the necessary guarantees for the continuity of the activities taken over.
In addition, the court has decided not to extend the judicial reorganization procedure, though bankruptcy has not been declared.