Merger Case M.8444 | Acquisition of Ilva by ArcelorMittal

Further information:

The Commission expressed concerns that the proposed merger might reduce competition for a number of flat carbon steel products. ArcelorMittal is the leading producer of flat carbon steel, both worldwide and in Europe, with a wide production network within the European Economic Area (EEA). Ilva is a significant producer of flat carbon steel with major production assets in Italy.

The transaction was notified to the Commission on 21 September 2017. On 19 October 2017, ArcelorMittal submitted commitments to address some of the Commission's preliminary concerns. However, the Commission considered these commitments insufficient to clearly dismiss its serious doubts as to the transaction's compatibility with the EU Merger Regulation.

Summary:

The European Commission announced on 8 November 2017 its decision to open an in-depth investigation to assess the proposed acquisition of Ilva by ArcelorMittal under the EU Merger Regulation.

On 7 May 2018, the Commission decided to approved the operation. Such decision was conditional on the divestitute of a remedy package to preserve competition on European steel markets.

• Primary Source

European Commission: Press Release, 07.05.18: Commission clears ArcelorMittal's acquisition of Ilva, subject to conditions http://europa.eu/rapid/press-release_IP-18-3721_en.htm

European Commission: Press Release, 08.11.17: Commission opens in-depth investigation into proposed acquisition of Ilva by ArcelorMittal http://europa.eu/rapid/press-release_IP-17-4485_en.htm

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