EU Approves Liberty House as Buyer for ArcelorMittal Assets
April 17 2019 - 10:00AM
Dow Jones News
By Nathan Allen
European antitrust authorities on Wednesday approved the sale of
several ArcelorMittal (MT.AE) steel plants to London-based metals
company Liberty House Group.
The European Commission said there was only limited overlap
between Liberty House's current activities and the divested assets,
which include steel mills in Romania and the Czech Republic, as
well as finishing plants in Western Europe and North Macedonia.
ArcelorMittal sold the assets to gain approval for its 1.8
billion-euro ($2.03 billion) takeover of Italian steelmaker Ilva
SpA.
The commission had concerns that the takeover would reduce
competition for certain types of flat steel products in Europe.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
April 17, 2019 09:45 ET (13:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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