Italian long steel producer Acciaierie Venete is buying local distributor Euro Sider Scalo, Kallanish learns from market sources.
Initially, the steelmaker will buy 60% of shares in the distributor through the creation of a new company. In time, Acciaierie Venete will increase its share to 100% through a call/put option, Italian competition body Autorità Garante Della Concorrenza E Del Mercato (AGCM) explains in a note.
Euro Sider Scalo is a distributor of high-quality special steel bars with different diameters and qualities. It supplies the mechanical, earth-moving machinery, industrial vehicles, automotive, oil & gas and hot-forging industries.
Natalia Capra France
