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ArcelorMittal to sell Piombino steel mill to Arvedi to help clear Ilva deal

The sources did not provide any other details. ArcelorMittal and Arvedi declined to comment

Reuters  |  Milan 

ArcelorMittal has reached a preliminary agreement to sell its steel mill in Piombino, Italy to Italian steelmaker Arvedi to help get clearance from EU authorities for its purchase of Ilva, Europe's largest steel plant. ArcelorMittal, the world's top steelmaker, reached a 1.8-billion-euro ($2.1 billion) deal to buy Ilva, in southern Italy, in June but the purchase has since stalled thanks to legal challenges and an EU anti-trust investigation. Two sources familiar with the matter told Reuters the deal was struck this week, and that ArcelorMittal was moved to dispose of ...

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First Published: Sat, December 23 2017. 02:37 IST
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