ArcelorMittal Submits Divestment Package To EC In Related To Acquisition Of Ilva

(RTTNews) - ArcelorMittal (MT) Friday said it submitted proposed divestment package to European Commission as part of the ongoing European Commission review into its acquisition of Ilva.

The submission has addressed concerns raised by the commission during its review. The proposed divestment package includes ArcelorMittal Piombino, the Company's only galvanised steel plant in Italy, ArcelorMittal Galati, Romania, ArcelorMittal Skopje, Macedonia, ArcelorMittal Ostrava, Czech Republic and ArcelorMittal Dudelange, Luxembourg. The list includes the hot-dipped galvanising lines 4 and 5 in Flemalle; hot-rolled pickling, cold rolling and tin packaging lines in Tilleur in Liège, Belgium.

The European Commission has opened an in-depth investigation to assess the proposed acquisition of Ilva and its concerns that the merger may reduce competition for a number of flat carbon steel products. The Commission's initial market investigation raised several issues relating in particular to the combination of producers of flat carbon steel products, namely hot rolled, cold rolled and galvanised flat carbon steel products.

The Commission has raised concerns whether customers would face higher prices for major inputs, particularly in Southern Europe. The Commission has also wanted to know whether the transaction could have an effect on the supply and prices of certain other products, such as metallic coated steel for packaging.

The European Commission is expected to reach a final decision on May 23, 2018.