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Wednesday | October 28 | 2020

Liberty Steel is interested in taking over the steel activities of Thyssenkrupp

Liberty Steel Group announced that it has made a non-binding indicative offer (NBIO) as part of a Thyssenkrupp-led process to acquire the steel activities of Thyssenkrupp.

An agreement would combine Europe’s fourth and second-largest steelmaker and mark the latest attempt at large-scale consolidation after the planned joint venture between Thyssenkrupp and Tata Steel was blocked in 2019.

Liberty Steel recently announced the acquisition of Hayange’s business in France, which produces railway rails, from British Steel.

In July last year, Liberty Steel paid 740 million euros to take over a series of steelworks in the Czech Republic, Romania, Northern Macedonia, Italy and Belgium from the ArcelorMittal group.

Liberty Steel is a global steel and mining business with annual revenues of about US$ 15 bn/ € 13 bn and 30.000 employees in more than 200 locations on four continents.

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