The President of the Office of Competition and Consumer Protection gave her clearance for the takeover of Krakodlew by ArcelorMittal Poland. The companies deal in metallurgical production

ArcelorMittal, the acquiring company, is Poland's largest manufacturer of metallurgic products. Its products are used in many sectors, e.g. in the construction, automotive, shipbuilding and transport industries. The company is part of the ArcelorMittal capital group, which includes entities whose activities focus on the production, processing and sales of steel and steel products in the entire world. In Poland, the group has ca. 40 subsidiaries.

The operations of the takeover target - Krakodlew - focus on the production of iron castings for the metallurgic industry. Based on the President of UOKiK’s decision, ArcelorMittal will acquire a stock of shares entitling it to hold over 60% of votes at the General Meeting of Shareholders of Krakodlew.

Having performed antitrust proceedings, the President of the Office concluded that the transaction will not affect the state of competition, in particular by creating or strengthening a dominant position on the market by any of its participants. The takeover will also have no negative consequences for consumers.

Under the existing law, a transaction must be notified to UOKiK if it involves enterprises whose total world-wide turnover exceeded EUR 1 billion or EUR 50 million in Poland in the financial year preceding the notification.

Additional information:
Małgorzata Cieloch, Spokesperson for UOKiK
Pl. Powstańców Warszawy 1, 00-950 Warsaw, Poland
Tel. (+48 22) 827 28 92, 55 60 106, 55 60 430
faks (+48 22) 826 11 86
E-mail: [SCODE]bWNpZWxvY2hAdW9raWsuZ292LnBs[ECODE]