SSAB Gets European Commission Approval to Divest in Sweden, Finland, Norway
February 12 2015 - 3:24AM
Dow Jones News
By Christina Zander
STOCKHOLM--Swedish steelmaker SSAB (SSAB-A.SK) said Thursday it
has received approval from the European Commission to sell Naantali
steel service center in Finland, Halmstad steel service center in
Sweden and 50% of the shares in Norsk Stal Tynnplater AS to Tata
Steel in Europe.
These transactions are part of the divestment remedies the
European Commission deemed necessary for the combination of
Rautaruukki with SSAB, announced last year.
SSAB has now received the commission's approval regarding the
divestments of all those remedies required for the combination.
These transactions are still, however, subject to the approval of
national competition authorities. The transactions have only a
limited impact on SSAB's financial results.
At 0836 GMT SSAB shares traded up 2.9% at SEK39.51.
Write to Christina Zander at christina.zander@wsj.com
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