Brazilian regulator approves ArcelorMittal steel asset sale to Mexico’s Grupo Simec [UPDATE]

The Brazilian competition regulator, Cade, has approved the sale of long steel assets from ArcelorMittal Brasil to Mexico's Grupo Simec, according to a document published in the country's official gazette on Monday April 16.

These divestments are part of the merger process between ArcelorMittal Brasil and local long steel producer Votorantim Siderurgia. In February, Cade approved the merger between the two companies, but with restrictions. One condition was that ArcelorMittal agreed to sell several assets to a...

Published

Felipe Peroni

April 17, 2018

15:43 GMT

São Paulo