Business

ArcelorMittal to Sell Four European Steel Plants to Liberty House

ArcelorMittal to sell four European steel plants to Liberty House in a landmark transaction that would take Liberty’s total rolling capacity to over 15 million tonnes a year (Photo: JEAN-CHRISTOPHE VERHAEGEN/AFP/GettyImages).

By: Radhakrishna N S

Liberty House, a part of Sanjeev Gupta’s global GFG Alliance will buy four European steel plants of ArcelorMittal employing more than 12,500 people by putting itself at the heart of the continent’s steel industry and cementing its global role in the sector, said ArcelorMittal and Liberty House in two separate statements on Friday (12). The landmark transaction that would take Liberty’s total rolling capacity to over 15 million tonnes a year. The group has made a binding offer to buy ArcelorMittal’s major integrated works at Galati in Romania and Ostrava in the Czech Republic, along with rolling mills at Skopje in Macedonia…

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