ArcelorMittal is seeking full control of ArcelorMittal CLN Distribuzione Italia (AMCLN), the Italian flat steel service centre joint venture it owns alongside CLN since 2015.
The European Commission has published the merger notification in the Official Journal, opening a period for third-party observations, Kallanish notes.
The transaction would give ArcelorMittal, which currently holds a minority stake in the service centre, full control over AMCLN. This follows a difficult period for CLN, which has faced financial pressure due to deteriorating conditions in the automotive sector.
AMCLN combines several service centre assets in Italy and operates subsidiaries including Delna, active in metal storage and pickling, and Tamagnone, specialising in coil transport and storage. The Commission’s preliminary examination will determine whether the transaction falls within the scope of the EU Merger Regulation.
ArcelorMittal declined to comment when approached by Kallanish.
Author: Natalia Capra
