ArcelorMittal’s joint venture gets EU clearance

June 4th, 2008 - 7:20 pm ICT by IANS  


Brussels, June 4 (IANS) The European Commission Wednesday said it has granted clearance under the EU Merger Regulation to the proposed joint venture between ArcelorMittal SA of Luxembourg and Borusan Holdings A.S. of Turkey, EuAsiaNews reported. ArcelorMittal, now part of Indian-born L.N. Mittal’s steel empire, is a global steel producer. Borusan is active in steel, distribution, logistics and telecommunications, noted the EU’s executive body in a statement.

The joint venture will produce hot strip steel.

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