Ashurst advises Liberty House on completion of landmark acquisition of European ArcelorMittal steel assets

The €740 million deal makes Liberty one of the top ten producers globally, excluding China, with a total rolling capacity in excess of 18 million tonnes covering a wide range of finished products.

The seven sites employ over 14,000 people and include the major integrated steel works at Ostrava in the Czech Republic and Galaţi in Romania as well as rolling mills at Skopje (North Macedonia), Piombino (Italy), Dudelange (Luxembourg) and two plants near Liege in Belgium. The service centres are based in France and Italy.

The Ashurst team was led by corporate partners Bruce Hanton and James Fletcher, assisted by counsel Brian Murphy, senior associate Richard Holmes, and associates Hayley Gow, Nick Lever, Jasmin O’Reilly, and James Powell. Competition advice was provided by partner Duncan Liddell and associate Danica Barley. Tax advice was provided by partner Nick Gardner. Partners Paul Stewart and Tamer Bahgat, counsel Don Brown and associate Tom Armond advised Liberty on the financing of the transaction. In Brussels, partners Arnaud Wtterwulghe and David Du Pont advised. In Milan, partners Carloandrea Meacci, Elena Giuffrè and Paolo Manganelli, and counsel Anna Pinzuti also advised.