“Approval by the (European Commission) is a significant milestone in the transaction to acquire ILVA and represents a major step toward closing the deal, which is now expected to occur as soon as possible,” ArcelorMittal said in a statement.

ArcelorMittal won approval after promising to divest assets in six countries in order to alleviate competition concerns. The assets going on the sales block are: ArcelorMittal Piombino, which is its only galvanizing plant in Italy; ArcelorMittal Galati in Romania; ArcelorMittal Skopje in Macedonia; ArcelorMittal Ostrava in the Czech Republic; ArcelorMittal Dudelange in Luxembourg; and two hot-dipped galvanizing lines and the hot-rolled pickling, cold rolling and tin packaging lines at facilities in Belgium.

ArcelorMittal and partner Marcegaglia struck an agreement to acquire ILVA from the Italian government last year.