Belgian steel wire and wire rope producer Bekaert has received competition clearance approvals for the sale of its shares in the Steel Wire Solutions businesses in Chile and Peru to its former partners for USD 136 million.
The agreement was agreed on 1 March 2023. Bekaert expected the transaction to be finalised in October.
The sale is part of Bekaert's strategy to develop the company's business portfolio, particularly in areas that can deliver higher profit margins and higher returns on capital, such as green energy, new mobility and low-carbon concrete solutions.
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