wiredInUSA March 2018

Brazilian boost

CADE, the Brazilian antitrust regulation agency, has approved ArcelorMittal’s acquisition of steelmaker Votorantim Siderurgia (VSA). The deal will boost ArcelorMittal Brazil’s crude steel production to 5.6 million tonnes per year and rolled steel capacity to 5.4 million tonnes per year. Jefferson De Paula, ArcelorMittal’s president for central and south American longs operations, said that the acquisition will enable ArcelorMittal to become the largest long steel producer in Brazil.

Among restrictions imposed by CADE, the companies agreed to divest two sets of assets. The first relates to the production of common long rolled products and drawn bars, and the second is related to the wire drawing and wire rod market. Each set must be sold to a single and distinct buyer, neither of whom can have any relation to the companies involved in the transaction or their affiliates, the regulator said.

wiredInUSA - March 2018

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