Salzgitter Submits Offer for ArcelorMittal Assets
July 16 2018 - 11:19AM
Dow Jones News
By Nathan Allen
German steelmaker Salzgitter AG (SZG.XE) said Monday that it has
submitted an offer to buy several assets that ArcelorMittal (MT.AE)
is selling to gain approval for its acquisition of Italy's
Ilva.
The units are in ArcelorMittal's Dudelange site in Luxembourg
and Liege, Belgium, Salzgitter said.
"The facilities in question are essentially two cold-rolling
lines, as well as facilities for tinning, hot-dip galvanizing and
the electrolytic galvanization of steel strip," Salzgitter
said.
The company didn't disclose the value of the bid, which is part
of a competitive tender.
The transaction is contingent on ArcelorMittal's succesful
acquisition of Ilva, Salzgitter said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 16, 2018 11:04 ET (15:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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