ArcelorMittal Hunedoara (BVB: SIDG) announced that it signed the transaction documents for the sale of its assets to UMB Steel, a company controlled by Romanian entrepreneur Dorinel Umbrărescu, bringing the deal close to completion.

“We inform you that the Company has completed negotiations with UMB Steel, and the transaction documents regarding the sale of the Company's assets for a total price of EUR 12.5 million (+ applicable VAT) were signed by the parties on February 17, 2026,” ArcelorMittal said in a statement to investors, as reported by Economica.net.

The completion of the transaction remains subject to several conditions precedent, currently in progress. These include approval by the Competition Council, clearance from the Romanian Direct Investment Examination Commission, and the transfer of the Integrated Environmental Authorisation from ArcelorMittal to UMB Steel.

The sale was approved by ArcelorMittal’s shareholders at an Extraordinary General Meeting held on February 9, 2026.

Dorinel Umbrărescu, who built his business empire in the road construction sector through the UMB group, is seeking vertical integration by securing domestic steel production capacity. Once the required approvals are obtained - widely seen as a formality - he is expected to become the full owner of the Hunedoara steel plant.

The facility is currently shut down. Market sources expect it to be restarted under the new ownership, likely focusing on the production of steel elements used in infrastructure and road construction projects, in line with Umbrărescu’s core business activities.

iulian@romania-insider.com

(Photo source: Karaboux/Dreamstime.com)