Metinvest interested in three ArcelorMittal assets, report says

Metinvest (METINV), Ukraine’s largest steelmaker,
wants to submit offers for three steel mills to be divested by ArcelorMittal, according
to Industrie Magazin, a German news site that cited Platts SBB as the ultimate
source of the information.

The mills are two flat product re-rollers located in
Piombino, Italy (800 kt per year) and Skopje, Macedonia (up to 1.2 mmt per
year), as well as an integrated flat products mill located in Galati,
Romania, according to Platts SBB, as cited by Industrie Magazin, which added
that Metinvest might partner up for these acquisitions with Italy’s
Marcegaglia.

Dmytro Khoroshun: Provided
the price is right, acquiring stakes in re-rolling capacities inside the EU
(Macedonia is only a candidate, not a member yet) will be positive for
Metinvest, especially after the introduction of a EUR 60.5/t duty
on imports of Metinvest’s hot-rolled flat products into the EU in October 2017.