Italy’s largest flat-steel producer Acciaieria Arvedi S.p.A. has moved to take sole control of automotive-focused steel distributor ArcelorMittal CLN Distribuzione Italia S.r.l. after Rome’s golden power veto forced ArcelorMittal to abandon its own acquisition bid, according to a Sept. 17 merger notification published by the European Commission.
The EC in its Official Journal confirmed that Acciaieria Arvedi S.p.A. has notified its intention to acquire sole control of ArcelorMittal CLN Distribuzione Italia S.r.l., known as AMCLN, through a purchase of shares.
The Commission received the notification on Sept. 10, under case reference M.12598.
ArcelorMittal had originally planned to acquire the remaining 51% of AMCLN it did not already own, but withdrew after Rome invoked its golden power framework to impose conditions on the deal.
Steel consolidation
AMCLN distributes flat carbon steel products — including hot-rolled and cold-rolled coil — through service centers across Italy, supplying the automotive, construction, and white goods sectors. Full ownership would give Arvedi an integrated position from mill to end-customer.
The Commission designated the case a candidate for its simplified procedure, signaling it does not expect the deal to raise significant competition concerns. Third parties have until Sept. 27 to submit observations.
Acciaieria Arvedi did not reply when contacted by Platts, part of S&P Global Energy, for a comment.
Platts assessed domestic hot-rolled coil in Southern Europe at €725/mt ex-works Italy Sept. 16, stable day over day.
Author: Annalisa Villa
