Liberty House ‘among front-runners’ to buy Ostrava, Galati steel mills, sources say

International metals group Liberty House is “among the front runners” to buy ArcelorMittal’s Galati plant in Romania and its Ostrava site in the Czech Republic, market sources told Metal Bulletin on Wednesday August 22.

Liberty House declined to comment on the matter at the time of publication.
“The European Commission [EC] likes the idea of integrating steelmaking with downstream industries, and that is basically Liberty House’s investment model,” one market source said.
Liberty House’s interest has arisen because ArcelorMittal is selling some assets as part of the requirements imposed on it before its proposed acquisition of Italian steelmaker Ilva will be allowed.

In early May this year, the EC conditionally approved the acquisition of Ilva, subject to an extensive package of divestments proposed by ArcelorMittal itself, which would preserve effective...


Viral Shah

August 22, 2018

14:05 GMT