Bank of America-Merrill Lynch will manage ArcelorMittal Galati sale

ArcelorMittal, the biggest steel maker in the world, has hired Bank of America-Merrill Lynch to manage the sale of several assets in Europe, including the steel mill the group owns at Galati, in Eastern Romania, according to Reuters. The European Commission approved on Monday ArcelorMittal’s intention to buy the Ilva steel plant in Italy, the biggest in the EU. The group has committed to selling some of its other assets in Europe, including the Galati plant, to meet antitrust requirements. ArcelorMittal Galati recorded an average production of 2 million tons of steel in recent years. Some 7,000 people work at the industrial platform, 5,500 on whom are the company’s employees. editor@romania-insider.com