ArcelorMittal received European Commission (EC) approval for the sale of several steelmaking assets to Liberty House Group. 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). According to Liberty House, the acquisition will make the company Europe’s third-largest steel producer. The transaction is expected to close by the end of the first half of 2019.
GFG Alliance (of which Liberty House is a part) has announced its intention to integrate most of its Liberty steel, engineering and mining businesses into a single global entity, spanning assets across the U.K., Europe and Australia. The consolidated business will include all of the U.K. steel and engineering assets, the integrated Australian Liberty primary steelworks in Whyalla, a number of Australian iron ore and metallurgical coal mines, and the seven European steel plants being acquired from ArcelorMittal.