ArcelorMittal receives European Commission approval for its acquisition of Ilva
May 07 2018 - 5:11AM
7 May 2018
ArcelorMittal ('the Company') announces that it has been granted
merger clearance by the European Commission ('EC' or 'the
Commission') for AM Investco Italy Srl (AM Investco)'s proposed
acquisition of Ilva S.p.A (Ilva).
EC merger clearance follows the conclusion of the Commission's
Phase II investigation into the proposed acquisition of Ilva, and
has been granted on the basis that the Company has committed to
dispose of assets in Italy, Romania, Macedonia, Czech Republic,
Luxembourg and Belgium, as previously announced on 13 April
2018.
Approval by the EC is a significant milestone in the transaction
to acquire Ilva and represents a major step towards closing the
deal, which is now expected to occur as soon as possible.
ENDS
Important InformationThis communication does not
constitute an offer to purchase or exchange or the solicitation of
an offer to buy or to exchange any securities of ArcelorMittal.
Nothing contained herein is, or shall be relied on as, a promise or
representation as to the future performance of ArcelorMittal.
Forward-Looking Statements This communication contains
forward-looking information and statements about ArcelorMittal and
its business after completion of the proposed transaction that have
not been audited or independently verified. Forward-looking
statements are statements that are not historical facts. These
statements include financial projections and estimates and their
underlying assumptions, statements regarding plans, objectives and
expectations with respect to future operations. Although the
management of ArcelorMittal believe that the expectations reflected
in such forward-looking statements are reasonable, investors and
holders of ArcelorMittal shares are cautioned that forward-looking
information and statements are subject to various risks and
uncertainties, many of which are difficult to predict and generally
beyond the control of ArcelorMittal, that could cause actual
results and developments to differ materially from those expressed
in, or implied or projected by, the forward-looking information and
statements. The combined group may not realize the full benefits of
the transaction.
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 2017, ArcelorMittal had revenues of $68.7 billion and crude
steel production of 93.1 million metric tonnes, while own iron ore
production reached 57.4 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/
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Contact information ArcelorMittal Investor Relations |
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Europe |
+442075431156 |
Americas |
+13128993985 |
Retail |
+442075431156 |
SRI |
+442075431156 |
Bonds/Credit |
+33171921026 |
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Contact information ArcelorMittal Corporate
Communications |
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E-mail: |
press@arcelormittal.com |
Phone: |
+442076297988 |
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ArcelorMittal Corporate Communications |
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Paul
Weigh |
+442032142419 |
Richard Farnsworth |
+447734776317 |
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