LUXEMBOURG (dpa-AFX) - Salzgitter AG (SZGPF.PK, SZGPY.PK) said that its executive Board has decided to submit an offer to acquire production facilities in Dudelange (Luxembourg) and Liege (Belgium) in the context of the divestment process currently conducted by ArcelorMittal.
The facilities in question are essentially two cold rolling lines, as well as facilities for tinning, hot-dip galvanizing and the electrolytic galvanization of steel strip.
Salzgitter said, 'Whether this will ultimately result in Salzgitter AG acquiring the production facilities is uncertain as the divestment procedure is a competitive process in which several bidders may bid. Any execution of a binding purchase agreement is subject to several conditions. Such conditions include the outcome of due diligence investigations, agreement with ArcelorMittal on the purchase agreement and the other transaction documents, as well as approval by the Supervisory Board of Salzgitter AG.'
In addition, the transaction is also contingent upon ArcelorMittal's acquisition of Ilva.
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