Celsa takeover moves ahead, industrial partner sought

The investment funds bidding to take control of Spain’s Celsa Group are moving ahead with the process, Spanish media reports.

The Spanish government will need to approve the move, but the investment funds have agreed to the main request made by authorities: find an industrial partner to acquire a 20% stake in the group, Kallanish understands.

According to Spanish sources, if all goes smoothly, control of Celsa could pass to the new owners by mid-2024. Media reports suggest industrial partner candidates include Sidenor, Megasa, as well as Hierros Anon – the owner of Siderurgica Balboa.

Emanuele Norsa Italy