UMB Steel

Romanian authorities approved UMB Steel's acquisition of ArcelorMittal's assets in Hunedoara, Romania.

ArcelorMittal Hunedoara signed transaction documents to sell its assets to UMB Steel, controlled by Romanian entrepreneur Dorinel Umbrărescu, for EUR 12.5 million. The deal is subject to regulatory approvals and is expected to restart the shut-down steel plant.

UMB Steel, part of Romanian builder UMB, acquired steelmaker ArcelorMittal Hunedoara for EUR 12.5 million. The deal includes all tangible assets, land, and buildings at the Hunedoara site, but not employees, as production had already stopped.