# Marcegaglia's acquisition of Outokumpu Long Products division approved

The European Commission and US competition authority approved Outokumpu's divestment of its long products division to Marcegaglia for €228 million, including mills in the UK, US, and Sweden.

- Type: Acquisition
- Announced: 2022-12-15
- Where: Sheffield, UK; Richburg, US; Fagersta, Sweden, United Kingdom
- Value: $243.0M (228.0M EUR)
- Jobs: 700
- Status: announced
- Products: long stainless steel products, specialty steels, wire rod, bars
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Outokumpu](https://endata.com/companies/21491.md) (target)
- [Marcegaglia](https://endata.com/companies/24769.md) (acquirer)

## Sources

- [eurometal.net](https://eurometal.net/competition-authorities-approve-marcegaglias/), 2022-12-15: "The transaction represents Marcegaglia’s first foray into steelmaking."
- [marcegaglia.com](https://www.marcegaglia.com/officialwebsite/en/marcegaglia-closed-with-outokumpu-purchase-of-long-stainless-products-assets-including-a-steel-mill/), 2023-01-03: "This is the greatest acquisition made so far in our history"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.