Mittal Sells Polish Subsidiary As Part Of Merger

Law360, New York (January 19, 2007, 12:00 AM EST) -- Newly formed steelmaker Arcelor Mittal agreed Friday to sell one of its Polish subsidiaries as part of a plan to tackle the European Commission’s concerns about competition in a niche of the steel industry.

Arcelor Mittal, now the largest steel maker in the world, said it would sell Huta Bankowa Sp to Alchemia SA Capital Group. The deal is one of several intended to seal the $33 billion hostile takeover of Luxembourg’s Arcelor SA by Dutch giant Mittal Steel NV.

Following Mittal Steel's bid for Arcelor...
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