Cade's technical report disapproves Votorantim, ArcelorMittal merger in Brazil

A technical report issued by the Brazilian competition regulator, Cade, recommended the refusal of the acquisition of local long steel producer Votorantim Siderurgia by ArcelorMittal’s Brazilian subsidiary.

Cade’s court will now evaluate the operation and make a final decision in a date yet to be defined.

The regulator’s technical area concluded on Tuesday September 5 that “the transaction means to remove a relevant player in a sector in which the three largest...

Published

Felipe Peroni

September 06, 2017

00:36 GMT

São Paulo