ArcelorMittal SA is seeking approval from European Union regulators after bidding to buy French steel assets from beleaguered tycoon Sanjeev Gupta.
The steel giant is planning to buy the majority of the shares in Liberty Steel France Holding SAS, which owns the Ascoval and Hayange plants, according to European Commission documents. The mills sought creditor protection in April amid financial distress at Gupta’s GFG Alliance, which owns the assets.
Gupta has been struggling to refinance his metals empire after the collapse of Greensill Capital, its…
