Metinvest mining and metal group could create a joint venture with Italy’s Marcegaglia SpA for the acquisition of the steel works in Galati, Romania (former SIDEX) if ArcelorMittal Group decides to sell it. According to Ziarul Financiar, which refers to Reuters, ArcelorMittal could sell its metal division in Galati to meet European antimonopoly legislation during the acquisition of Ilva steel plant in Italy.
According to the report, the European Commission proposed to ArcelorMittal to sell other assets, including the plant in Galati, which today produces 2 million tonnes of steel a year, when the commission considered the approval to acquire the Italian plant by ArcelorMittal.
The possible buyer could be JV of Metinvest and Marcegaglia, Ziarul Financiar’s sources familiar with the deal said.
