ArcelorMittal hires Bank of America to sell European steel assets
ArcelorMittal told Reuters on Wednesday that it had appointed Bank of America-ML to handle the asset sale. European and Asian steelmakers will be among the likely buyers as the European Commission has said the steel plants would be sold to buyers who would continue to operate them, allowing them to compete with ArcelorMittal.
ArcelorMittal said it plans to invest a further 2.4 billion euros ($2.85 billion) cleaning up and modernizing Ilva. Image source: Reuters