Liberty becomes one of the world’s largest steelmaker after €740m Arcelor deal

Sanjeev Gupta’s Liberty Steel has completed its €740m acquisition of Arcelor Mittal’s European assets, which has a rolling capacity of over 10m tonnes a year. The deal turns Liberty, the industrial and metal s UK company into one of the largest steelmakers globally after an aggressive buying spree.

 Now Liberty owns seven steelworks employing 14, 000 people, that supply steel to Europe’s largest industries from automotive to aerospace.

Mr Gupta’s GFG Alliance which owns Liberty, now has 30,000 workers across 30 countries.

Liberty received EU approval in April 2019, to acquire the Arcelor Mittal assets after the European Commission declared it as a suitable purchaser and the deal raised to competition issues.

 “These businesses will form a key part of our global steel strategy of building a sustainable steel business, with a fully integrated value chain, from raw materials to high value finished products.” Mr Gupta said.