POST Online Media Lite Edition


ArcelorMittal completes sale of several European steelmaking assets to Liberty House Group

Christian Fernsby |
ArcelorMittal announces that it completed the sale to Liberty House Group of several steelmaking assets that form the divestment package the Company agreed with the European Commission (‘EC’) during its merger control investigation into the company’s acquisition of Ilva S.p.A.

Article continues below

Assets included within the divestment package are: ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia), ArcelorMittal Piombino (Italy), ArcelorMittal Dudelange (Luxembourg) and several finishing lines at ArcelorMittal Liège (Belgium).

The total net consideration for the assets payable to ArcelorMittal is €740 million. €610 million was received on 28 June. The Company is required to deposit €110 million in escrow to be used by Liberty for certain capital expenditure projects as part of the EC approval process.

What to read next

EC clears ArcelorMittal's acquisition of Ilva, subject to conditions
Liberty Interactive to invest $2.4 billion in Liberty Broadband
EC approves Liberty House Group purchase of ArcelorMittal's divestment businesses