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European Commission approves Liberty Steel's acquisition of Hungary's Dunaferr

The European Union has approved the takeover of the Dunaferr steel mill, the Ministry of Economic Development said in a statement.

European Commission approves Liberty Steel's acquisition of Hungary's Dunaferr

The European Union examined the acquisition of Dunaferr under the simplified merger control procedure and approved it on Monday, the ministry said. Liberty Steel had previously submitted a valid and lucrative offer in an open and transparent liquidation procedure.

Commenting on the decision, Minister of State for Industrial Policy and Technology Gergely Fábián said: "With this approval, the last obstacle to the successful sale and future of Dunaferr has been removed."

Fábián emphasised:

"There is still much to be done, but the factory has been rescued from last year's seemingly hopeless situation and has a promising future ahead of it. The Ministry of Economic Development will continue to play an active role in saving the factory and jobs."

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