EC clears joint acquisition of CSM by ArcelorMittal, CLN

The European Commission has approved the joint control acquisition of Centro Servizi Metalli (CSM) by Coils Lamiere Nastri (CLN) and ArcelorMittal.

CSM and ArcelorMittal are active in the distribution of stainless steel quarto plates through oxy-cutting centers, while ArcelorMittal is also a producer of these goods.

It is understood that ArcelorMittal CLN will get 42.39% of CSM’s shares, while ArcelorMittal’s wholly-owned subsidiary Industeel will own 49%, although the discussion is still ongoing as the closing has not been concluded. It is likely that will be concluded by April.

Industeel already owns 21.01% of CSM sinc6e 2013. CSM was previously controlled by the Slovenian Steel Group after it acquired controlling shares from Quarto Fin in 2012, which remained a stakeholder.

CSM has three production units in Italy (Reggio Emilia), Poland (Gliwice) and France (Lyon). The group also has two sales offices in Germany and one in Benelux.

Annalisa Villa, PLATTS