Liberty completes acquisition of European ArcelorMittal steel assets

Liberty Steel, part of Sanjeev Gupta’s global GFG Alliance, today completed the acquisition of seven major steelworks and five service centres across seven European countries from ArcelorMittal.

The €740 million deal makes Liberty Steel 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.

This is the largest single transaction undertaken by GFG and brings the Alliance’s worldwide workforce to nearly 30,000 across 30 counties.

The seven sites, which today became part of Liberty, 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.