By Nathan Allen

ArcelorMittal (MT.FR) said Friday that it has proposed a package of divestments to the European Commission in an effort to gain approval for its intended takeover of Italian steelmaker Ilva.

The package includes ArcelorMittal Piombino, the company's only galvanized steel plant in Italy, as well as assets in Romania, Macedonia, the Czech Republic and Luxembourg.

ArcelorMittal also said it would divest from several specialty steel production lines at its Flemalle and Tilleur mills in Liege.

The European Commission opened an investigation into the deal in November, amid concerns that it could reduce competition for flat carbon steel products and lead to higher prices for consumers, particularly in Southern Europe.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 13, 2018 04:46 ET (08:46 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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