India JSW plans to acquire Ammi Romanian steel mill
Date：2018-07-04 10:36:09 Visit：1479
According to foreign media reports, India's largest steel mill JSW Steel plans to bid for ArcelorMittal's Galati plant in Romania.
JSW Steel's bidding rivals include the Ukrainian International Mining and Metals Group Metinvest and the Italian steel processing company Marcegaglia. ArcelorMittal is the world's largest steel company. In order to obtain support from European antitrust regulators for its proposal to acquire the Italian Ilva plant, ArcelorMittal must sell six steel assets in Europe. Industry analysts estimate the total value of these assets for sale to be $7.52-9.4 billion. The Galati Steel, which has 5,600 employees, is the most valuable of these assets. Bank of America-Merrill Lynch, which is responsible for the sale of the Galatz steel mill, said it will try to complete the asset sale by the end of this year. According to the requirements of the European Commission, ArcelorMittal also needs to provide buyers with an unspecified amount of financing to ensure that the output of Galati Steel continues to increase after the sale and maintains certain profitability and competitiveness.
JSW Steel's bidding rivals include the Ukrainian International Mining and Metals Group Metinvest and the Italian steel processing company Marcegaglia. ArcelorMittal is the world's largest steel company. In order to obtain support from European antitrust regulators for its proposal to acquire the Italian Ilva plant, ArcelorMittal must sell six steel assets in Europe. Industry analysts estimate the total value of these assets for sale to be $7.52-9.4 billion. The Galati Steel, which has 5,600 employees, is the most valuable of these assets. Bank of America-Merrill Lynch, which is responsible for the sale of the Galatz steel mill, said it will try to complete the asset sale by the end of this year. According to the requirements of the European Commission, ArcelorMittal also needs to provide buyers with an unspecified amount of financing to ensure that the output of Galati Steel continues to increase after the sale and maintains certain profitability and competitiveness.
