Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

Written by Roberta Souza

Published on 13/01/2023 at 08:09

Updated on 15/01/2023 at 16:49

Foto: Reprodução cspecem

Seja o primeiro a reagir!

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

CADE (Administrative Council for Economic Defense), through its General Superintendence, approved the sale of the Pecém Steel Company to ArcelorMittal, for approximately US$ 2.2 billion. The announcement was made on Wednesday, 11.

The released document states that the components related to imports and the Brazilian steel plate market mitigate the possibility of a bad deal on ArcelorMittal’s part.

Furthermore, CADE points out that, although there are steel companies such as CSN and Gerdau, in addition to other companies in the steel sector, steel plates are products that have characteristics that do not prevent their replacement by others from different suppliers than ArcelorMittal.

ARTICLE CONTINUES BELOW

Start of Operations

According to ArcelorMittal, in line with legislation, it will now begin a set period of 15 days, during which a “withdrawal” from the sale of the steel company may occur. Until the end of this period, both steel companies will continue their independent production.

If ArcelorMittal withdraws from the purchase of the steel company within the 15-day period, the operation will continue until completion and will be finalized upon signing the documents. If there is any proposed review, the companies will continue to operate independently until the final decision by the authority.

ABOUT ARCELORMITTAL

ArcelorMittal is a global steel giant, with customers in 160 countries and over 190,000 employees.

It is listed on the stock exchanges of New York, Amsterdam, Paris, Luxembourg, Barcelona, Bilbao, Madrid, and Valencia.

In Brazil, it operates in the production of steel and has an installed capacity of 12.5 million tons per year, with industries in six states and 16,000 employees.

Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

Start of Operations

ABOUT ARCELORMITTAL

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

The world has been generating 80% of electricity by boiling water for 200 years, but China has just turned on a machine that replaces steam with supercritical CO2 and promises to jump from 33% to 50% efficiency.

At a depth of 914 meters, a team accidentally discovers a pirate ship with cannons, a telescope, and objects from three continents on the seabed, uncovering a mystery that has haunted Europe for centuries.

Brazilian producers are leaving Roraima to plant in Guyana, where the government offers land on concession and does not charge taxes, while in Brazil the harvest faces high interest rates and a bureaucracy that hinders even the use of the rivers.

Instead of digging new holes, scientists dive into an abandoned acid mine lake in Montana and discover that the toxic water has already done the work of extracting rare earths from the rock on its own.

The photo that changed airport security worldwide was accidentally taken in Sydney in 1970, when a camera inadvertently captured the fall of a teenager from the landing gear of an airplane.

Billion-Dollar Sale of Steel Company to ArcelorMittal Approved by CADE

The Sale of the Pecém Steel Company Was Evaluated at US$ 2.2 Billion and Was Announced on Wednesday, 11

Start of Operations

ABOUT ARCELORMITTAL

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

At 625 meters above the ground and with a span of 1,420 meters between mountains, China inaugurated the highest bridge in the world — and the 2-hour journey now takes 2 minutes.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

China inaugurates a 24 km monster that is a bridge, tunnel, and museum at the same time — and 90,000 cars pass through it every day.

New J.Macêdo factory receives an investment of R$ 300 million, expands pasta production in the Northeast, creates jobs, and boosts the economy in Ceará.

The world has been generating 80% of electricity by boiling water for 200 years, but China has just turned on a machine that replaces steam with supercritical CO2 and promises to jump from 33% to 50% efficiency.

At a depth of 914 meters, a team accidentally discovers a pirate ship with cannons, a telescope, and objects from three continents on the seabed, uncovering a mystery that has haunted Europe for centuries.

Brazilian producers are leaving Roraima to plant in Guyana, where the government offers land on concession and does not charge taxes, while in Brazil the harvest faces high interest rates and a bureaucracy that hinders even the use of the rivers.

Instead of digging new holes, scientists dive into an abandoned acid mine lake in Montana and discover that the toxic water has already done the work of extracting rare earths from the rock on its own.

The photo that changed airport security worldwide was accidentally taken in Sydney in 1970, when a camera inadvertently captured the fall of a teenager from the landing gear of an airplane.