The operation will be carried out through its subsidiary Arcelor Luxembourg
The world's largest steel producer, the Arcelor Mittal group, notified the European Commission (EC) of its planned purchase, through its subsidiary Arcelor Luxembourg, of the gas company Saar Ferngas, so that it can analyze whether the operation will cause competition problems in the European Economic Area (EEA).
After conducting a preliminary review of the operation, which was notified on October 16, the European Commission has now urged interested third parties to submit their observations on the matter within the next ten days, as announced in the Official Journal of the European Union (EU).
Once the deadline for submitting comments to the Commission has passed, the Commission will examine in detail Arcelor's proposal and its potential effects on the energy sector in the European Economic Area, which comprises the EU, Norway, Iceland and Liechtenstein.
Once approved by competition authorities, the transaction will be completed through the purchase of Saar Ferngas shares by Arcelor Luxembourg.
Brussels notes that Arcelor Luxembourg's economic activity, like that of its parent company Arcelor Mittal, focuses on steel production and the provision of related services.
For its part, the German company Saar Ferngas is dedicated to the purchase, transport, storage and supply of natural gas to local wholesalers, industrial customers, power plants and the provision of related services.
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