Assets For Sale
Here’s who has been put on the sales block.
Latest News
Essar Steel Creditors Give Nod to ArcelorMittal Offer
30 October 2018 - Essar Steel India Ltd.’s creditors have named ArcelorMittal as the successful bidder for the debt-laden business, accepting its US$6.8 billion offer.
In Surprise Move, Essar Steel Promoters Offer to Repay Lenders and Halt Bankruptcy Sale
25 October 2018 - India’s Ruia family, which promotes Essar Steel India Ltd., have made a last-ditch effort to reclaim the bankrupt business, offering to pay off the equivalent of US$7.4 billion, just as creditors were to vote on a bid from ArcelorMittal.
To Allow for Essar Steel Acquisition, ArcelorMittal Agrees to Pay Off US$1B in Debt
17 October 2018 - ArcelorMittal said it is prepared to pay off the equivalent of about US$1 billion in debt on two businesses in which it had held ownership stakes in order to win approval to buy another.
Liberty House Adds Four European Steel Plants to Growing List of Assets
12 October 2018 - Sanjeev Gupta’s Liberty House Group has signed an agreement to buy four ArcelorMittal facilities in Europe, an acquisition that will double its rolling capacity to more than 15 million metric tons annually.
Tata Expands Capacity With Usha Martin Acquisition
24 September 2018 - Indian wire rope manufacturer Usha Martin Ltd. is divesting its special steel plant and other upstream assets to Tata Steel for the equivalent of between US$589.6 million and US$644.5 million, the company has announced.
Steel Dynamics Takes the Keys to Closed Bar Mill, Eyes November Restart
18 September 2018 - Steel Dynamics Inc. has finalized its acquisition of shuttered Kentucky Electric Steel for US$5 million and plans to reopen the facility in November.
ArcelorMittal Raises Offer for India’s Essar Steel
12 September 2018 - ArcelorMittal has put a new offer on the table for Essar Steel India Ltd., bidding the equivalent of US$5.8 billion for the bankrupt steelmaker, according to media reports.
Report: Nucor Withdraws Bid for Shuttered DRI Plant
06 September 2018 - Nucor Corp. reportedly has withdrawn its US$20 million offer for a shuttered direct-reduced iron pant in Trinidad and Tobago after growing frustrated by government delays, the Newsday newspaper reports.
With Divestment of Australian Mine, Cleveland-Cliffs Returns Focus Entirely to North America
30 August 2018 - Iron ore miner Cleveland–Cliffs Inc. has finalized the sale of its Australian iron ore business, fully re-establishing itself as a regionally focused player in North America.
ArcelorMittal Makes 'Take It or Leave It' Offer for ILVA
30 July 2018 - ArcelorMittal has upped its offer for Italy’s ILVA after the country’s new government began pushing for a better deal, reports commodities news and pricing service Argus Media.
Bristol Metals Finalizes Purchase of Galvanized Tube Business
05 July 2018 - Bristol Metals LLC has closed on its acquisition of Marcegaglia USA’s galvanized tube business, the company has announced.
Steel Dynamics Closes on Acquisition of Sheet Processing Facility
02 July 2018 - Steel Dynamics Inc. has finalized its acquisition of the former Heartland Steel sheet processing plant from Companhia Siderurgica Nacional.
Cliffs to Divest Australian Iron Ore Mine
12 June 2018 - Iron ore miner Cleveland-Cliffs Inc. has reached an agreement to sell its Australian iron ore operation to Australia's Mineral Resources Ltd. for an undisclosed amount.
JSW Steel Reaches Deal to Acquire Italian Long Products Facility
18 May 2018 - JSW Steel has locked up a deal to acquire Italy’s struggling Aferpi long products mill from the Cevital Group, according to reports.
20% of India's Steel Capacity Is Up for Grabs
17 May 2018 - Acquisitive steelmakers are offering to pay the equivalent of US$14 billion for one-fifth of India’s steelmaking capacity, reports the online publication Quartz.
SDI Expands Flat-Rolled Operation Through US$400 Million Acquisition
15 May 2018 - Steel Dynamics Inc. said it will acquire Companhia Siderurgica Nacional’s (CSN) coil processing operation in Terre Haute, Ind., USA, for US$400 million in cash.
Tata Steel Europe Puts Non-Core Businesses Up for Sale
09 May 2018 - Tata Steel Europe said it will look to divest five niche businesses so that it can focus its efforts on its strip steel operations.
Grupo Simec Reaches Deal to Acquire Brazilian Long Products Mills
06 May 2018 - ArcelorMittal Brazil has struck a deal to sell two mills and wire drawing equipment to Mexican long products producer Grupo Simec, fulfilling an agreement with Brazilian competition regulators.
Electrosteel Acquisition Wins Tribunal Approval
17 April 2018 - Indian officials have approved ore miner Vedanta Resources' offer to acquire Electrosteel Steels Ltd., becoming the first of 12 companies forced into insolvency by India’s central bank to reach this stage.
Gerdau Finalizes Divestment of Texas Mill
03 April 2018 - Gerdau SA has completed the sale of its Beaumont, Texas, wire rod mill and two downstream facilities to an entity affiliated with Florida-based Wire Mesh Corp.
