Metinvest plans to acquire full control over ArcelorMittal Tubular Products Iasi S.A. (AMTP Iasi) in Romania, according to a European Commission notification dated 29 October.
Under the proposed deal, Metinvest, a vertically integrated mining and steel group controlled by Ukrainian businessman Rinat Akhmetov and Smart Steel Limited (Cyprus), will purchase all shares of AMTP Iasi, a Romanian producer of small welded carbon steel tubes currently controlled by ArcelorMittal S.A. (Luxembourg).
Neither Metinvest nor ArcelorMittal responded to request for comment on Wednesday.
ArcelorMittal Tubular Products Iasi, part of the ArcelorMittal Sustainable Solutions segment, decommissioned its pipe mill #2 (R220) in July 2024, according to ArcelorMittal’s 2024 annual report.
Metinvest is looking to expand its production capabilities in the EU, which include Promet Steel in Bulgaria, and Trametal and Ferriera Valsider in Italy. The Ukrainian firm recently confirmed to Kallanish its interest in acquiring troubled Romanian steelmaker Liberty Galati. It is also building a low-emission flat steel joint venture plant with Danieli in Piombino, Italy.
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