Brazilian regulator approves Votorantim Siderurgia, ArcelorMittal merger 'with restrictions'

Brazilian competition regulator Cade has approved the proposed merger between ArcelorMittal Brasil and long steel producer Votorantim Siderurgia, but with restrictions.

The operation was approved by a majority of Cade’s administrative court on Wednesday February 7 and is conditional on ArcelorMittal agreeing to sell several assets, as well as taking on commitments about production levels.

ArcelorMittal will divest its Cariacica facility in Brazil’s south-eastern Espírito Santo state and transfer a rental contract for its Itaúna facility in the country’s south-eastern Minas Gerais state to other companies. It will also sell two drawn products units.
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Published

Felipe Peroni

February 07, 2018

17:30 GMT

São Paulo