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Wednesday, 8 November 2017

ArcelorMittal-led consortium will continue discussions with the European Commission regarding the proposed acquisition of Ilva

ArcelorMittal S.A.    

Published: 18:24 CET 08-11-2017 /GlobeNewswire /Source: ArcelorMittal S.A. / : MT /ISIN: LU1598757687

ArcelorMittal-led consortium will continue discussions with the European Commission regarding the proposed acquisition of Ilva

8 November 2017 - ArcelorMittal today confirms that the European Commission has initiated a Phase II review of AM Investco Italy Srl ('AM Investco')'s proposed acquisition of Ilva S.p.A. ArcelorMittal will continue to work closely and constructively with the European Commission to explain the dynamics of the steel industry, the rationale of the proposed acquisition and the benefits it will bring to industry, customers, the environment and the local economy. We look forward to ongoing dialogue with the Commission to secure approval for this transaction in a timely manner.

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ArcelorMittal notified AM Investco's proposed acquisition of Ilva S.p.A to the European Commission on 21 September 2017, and submitted commitments on 19 October 2017. AM Investco reached a binding agreement concerning the lease and obligation to purchase Ilva S.p.A and its subsidiaries with the Italian Government in June 2017. 

 

ENDS

 

About ArcelorMittal

 

ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.

 

Through our core values of sustainability, quality and leadership, we operate responsibly with respect to the health, safety and wellbeing of our employees, contractors and the communities in which we operate.

 

For us, steel is the fabric of life, as it is at the heart of the modern world from railways to cars and washing machines. We are actively researching and producing steel-based technologies and solutions that make many of the products and components people use in their everyday lives more energy efficient.

 

We are one of the world's five largest producers of iron ore and metallurgical coal. With a geographically diversified portfolio of iron ore and coal assets, we are strategically positioned to serve our network of steel plants and the external global market. While our steel operations are important customers, our supply to the external market is increasing as we grow.

 

In 2016, ArcelorMittal had revenues of $56.8 billion and crude steel production of 90.8 million tonnes, while own iron ore production reached 55.2 million tonnes.

 

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).


For more information about ArcelorMittal please visit:
http://corporate.arcelormittal.com/

 


 

 

Contact information ArcelorMittal Investor Relations

 

 

 

Europe

+442075431123

Americas

+13128993985

Retail

+442075431123

SRI

+442075431123

Bonds/Credit

+33171921026

 

 

 

 

Contact information ArcelorMittal Corporate Communications

 

 

E-mail:

 

press@arcelormittal.com

Phone:

+442076297988

 

 

 

 

ArcelorMittal Corporate Communications

 

 

 

Paul Weigh

+442032142419

 

 

 

 

France

 

Image 7

 

Sylvie Dumaine / Anne-Charlotte Creach

+33153707470

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: ArcelorMittal S.A., Berkeley Square House, 7th Floor Berkeley Square, London W1J 6DA, UK
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