knofje schreef op 23 oktober 2017 17:59:
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EU authorities postpone decision on Ilva sale to November 13
The EU’s competition regulators have rescheduled their announcement of a decision on the sale of Italian flat steel producer Ilva to November 13 this year, a spokeswoman for the European Commission (EC) confirmed to Metal Bulletin on Monday October 23.
The decision was postponed because the intended purchaser, AM Investco Italy, a consortium led by ArcelorMittal and Italian re-roller Marcegaglia, submitted commitments to the authorities on October 19.
These commitments are modifications to the original projected purchase that would guarantee continued competition in the market, should the EC have concerns that a merger would significantly affect competition.
“We can confirm that we have received commitments but cannot comment on their content,” the spokeswoman said. “Our assessment of this proposed merger is continuing. The current decision deadline is November 13.”
ArcelorMittal did not respond to a request for comment at the time of publication.
The EC will analyse the proposed changes to see whether they are viable, and are sufficient to eliminate concerns about competition. If the remedies are accepted, they will become binding on the purchasing companies and an independent trustee will be appointed to supervise compliance with the commitments.
The original deadline for the ruling was October 26.