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Arcelor Mittal To Shed Italian Unit Amid E.U. Concerns

Law360 (December 13, 2006, 12:00 AM EST) -- Arcelor Mittal, soon to be the world’s largest steel company, has agreed to divest an Italian unit for €117 million to further comply with E.U. recommendations.

The steel giant said Wednesday it would sell off its Italian operations as well as its 49.9% stake in the steel plant San Zeno Acciai-Duferco SpA to steel trading company Duferco under the agreement.

Duferco, which already owns 50.1% of that steel plant through its Duferdofin SpA unit, will also acquire Arcelor Mittal’s San Zeno Acciai units and its rolling...
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