By Nathan Allen
European antitrust authorities on Wednesday approved the sale of several ArcelorMittal (MT.AE) steel plants to London-based metals company Liberty House Group.
The European Commission said there was only limited overlap between Liberty House's current activities and the divested assets, which include steel mills in Romania and the Czech Republic, as well as finishing plants in Western Europe and North Macedonia.
ArcelorMittal sold the assets to gain approval for its 1.8 billion-euro ($2.03 billion) takeover of Italian steelmaker Ilva SpA.
The commission had concerns that the takeover would reduce competition for certain types of flat steel products in Europe.
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