Press Release: Mergers: Commission approves joint acquisition of Erdemir by Arcelor and Turkish fund OYAK

The European Commission on 13 February 2006 cleared under the EU Merger Regulation the proposed acquisition of the Turkish company Eregli Demir ve Celik Fabrikalari T.A.S ('Erdemir'), by Arcelor AS ('Arcelor') of Luxembourg and the Turkish fund Ordu Yardimlasma Kurumu ('Oyak'). The Commission found that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.