Arcelormittal Completes Sale Of Several European Steelmaking Assets To Liberty House Group
01 Luglio 2019 - 8:30AM
Dow Jones News
TIDMMT
1 July 2019, 08:00 CET
ArcelorMittal ('the Company') announces that yesterday it completed the
sale to Liberty House Group ('Liberty') 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.
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
EUR740 million. EUR610 million was received on 28 June. The Company is
required to deposit EUR110 million in escrow to be used by Liberty for
certain capital expenditure projects as part of the EC approval process.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel and mining company, with a
presence in 60 countries and an industrial footprint in 18 countries.
Guided by a philosophy to produce safe, sustainable steel, we are the
leading supplier of quality steel in the major global steel markets
including automotive, construction, household appliances and packaging,
with world-class research and development and outstanding distribution
networks.
Through our core values of sustainability, quality and leadership, we
operate responsibly with respect to the health, safety and wellbeing of
our employees, contractors and the communities in which we operate.
For us, steel is the fabric of life, as it is at the heart of the modern
world from railways to cars and washing machines. We are actively
researching and producing steel-based technologies and solutions that
make many of the products and components people use in their everyday
lives more energy efficient.
We are one of the world's five largest producers of iron ore and
metallurgical coal. With a geographically diversified portfolio of iron
ore and coal assets, we are strategically positioned to serve our
network of steel plants and the external global market. While our steel
operations are important customers, our supply to the external market is
increasing as we grow.
In 2018, ArcelorMittal had revenues of $76.0 billion and crude steel
production of 92.5 million metric tonnes, while own iron ore production
reached 58.5 million metric tonnes.
ArcelorMittal is listed on the stock exchanges of New York (MT),
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/
Contact information ArcelorMittal
Investor Relations
Europe +44 20 7543 1156
Americas +1 312 899 3985
Retail +44 20 7543 1156
SRI +44 207543 1156
Bonds/Credit +33 171 921 026
Contact information ArcelorMittal
Corporate Communications
mailto:press@arcelormittal.com
E-mail: press@arcelormittal.com
--------------------------------
Phone: +442076297988
ArcelorMittal Corporate Communications
Paul Weigh +44 20 3214 2419
(END) Dow Jones Newswires
July 01, 2019 02:15 ET (06:15 GMT)
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