Arcelor Mittal plans to acquire Alba subsidiaries in Germany

Steelmaker Arcelor Mittal plans to acquire three German subsidiaries of Alba Group. Specifically, it wants to acquire all shares in and full control over Alba Metall Süd Franken GmbH, Alba Metall Süd Rhein-Main GmbH and Alba Electronics Recycling GmbH. The three firms currently belong to Alba International Recycling GmbH (AIR), which is part of Alba Group. Following the planned split of Alba group into two separate entities owned respectively by the brothers Eric and Axel Schweitzer, AIR would be controlled by Axel Schweitzer via its parent company Interseroh.

Plans for the proposed take-over, which is expected to close in the summer, were notified to the competition authorities in Austria and Germany. The purchase price was not disclosed....

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