June 23, 2025 09:30:30 PM
Also, all employees’ jobs will be transferred to the new owner.
SEATTLE (Scrap Monster): In order to sell its interests in Bosnia and Herzegovina to Pavgord Group, ArcelorMittal stated that it has signed a sale and purchase agreement. ArcelorMittal Prijedor, an iron ore mining company that supplies the Zenica facility, and ArcelorMittal Zenica, an integrated steel mill, will be included in the deal.
If merger control clearance is obtained and all requirements are met, the deal is anticipated to be finalized by the third quarter of 2025. All of the business's operations will carry on normally till then.
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According to a company press release, the company has made significant investments and efforts to keep ArcelorMittal Zenica and ArcelorMittal Prijedor within the group. However, a thorough strategic review by the company forced it to arrive at a conclusion that a potential sale is the best solution for the development of the business and its people.
As per the agreement, ArcelorMittal will sell Pavgord Group its ownership in ArcelorMittal Zenica and ArcelorMittal Prijedor. Additionally, the new owner will take over all employees' jobs.
Sanjay Samaddar, Vice President ArcelorMittal and chief executive officer, ArcelorMittal Europe – Long Products acknowledged the the support of the government of Bosnia and Herzegovina, and the government of the Federation and Republika Srpska for more than two decades of its operations. The company will continue to be a major economic driver for the country, he added.