According to market reports, Italian long steel producer Feralpi Group will control a 50% stake in Caleotto, a specialized wire re-rolling producer in Italy.
Currently, Feralpi and Duferco own 50% of Caleotto respectively. The transaction was expected to be subject to antitrust review by the European Commission.
The decision is the result of the joint development of the 2 groups, the two companies said in a statement.
Feralpi focused on special steels, while Duferco specialized in profile rolling. The partnership would not end as a share transfer.
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