April 13, 2018 / 8:34 AM / 4 months ago

ArcelorMittal submits divestment proposals for Ilva deal to EU Commission

BRUSSELS (Reuters) - ArcelorMittal has submitted divestment proposals to the European Commission aiming to secure EU competition clearance for its purchase of Italian steelmaker Ilva, the world’s largest steel producer said on Friday.

FILE PHOTO: A logo is seen on the roof of the ArcelorMittal steelworks headquarters in Ostrava, Czech Republic, April 1, 2016. REUTERS/David W Cerny/File Photo

The proposed divestments include assets in Belgium, Czech Republic, Italy, Luxembourg, Macedonia and Romania, the company said.

The Commission is seeking feedback from rivals and customers on Arcelor’s proposed concessions before deciding whether to clear the Ilva deal. It is expected to rule on the deal by May 23.

ArcelorMittal reached a 1.8 billion euro (£1.55 billion) deal in June 2017 to acquire Europe’s biggest steel plant.

Reporting by Robert-Jan Bartunek; editing by David Goodman and Jason Neely

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