ArcelorMittal said it plans to invest a further €2.4 billion cleaning up and modernizing Ilva, which has been dogged by charges of corruption and environmental crime for years. Photo: BloombergLondon: The world’s largest steelmaker ArcelorMittal has hired Bank of America-Merrill Lynch to sell a number of its steel assets to secure antitrust clearance to acquire Italian peer Ilva. ArcelorMittal told Reuters on Wednesday that it had appointed Bank of America-ML to handle the asset sale. Steel majors Tata Steel and Thyssenkrupp agreed in 2017 to combine their European steel assets. ArcelorMittal said it plans to invest a further €2.4 billion ($2.85 billion) cleaning up and modernizing Ilva, which has been dogged by charges of corruption and environmental crime for years.

Source: Mint May 09, 2018 12:22 UTC