Chairman and chief executive of global steel giant ArcelorMittal, Laskshmi Mittal, is reportedly bidding for assets put up for sale by Anglo American and Lafarge UK. Sky News claims Mittal, whose wealth was estimated at £12.7bn, is bidding for the assets which have been ordered to be sold by the UK’s Competition Commission as a pre-condition for the completion of the Tarmac (Anglo’s UK business) and Lafarge UK merger.
Chairman and chief executive of global steel giant ArcelorMittal, Laskshmi Mittal, is reportedly bidding for assets put up for sale by Anglo American and Lafarge UK.
Sky News claims Mittal, whose wealth was estimated at £12.7bn, is bidding for the assets which have been ordered to be sold by the UK’s Competition Commission as a pre-condition for the completion of the Tarmac (Anglo’s UK business) and Lafarge UK merger.
In a statement in May, the Competition Commission said it wanted to see the asset portfolio sold to a single buyer in order to avoid a diminution of competition in an important industrial market.
Britain’s richest man, Mittal is said to be bidding through one of his private ventures rather than through ArcelorMittal. Sky News reported that it is unclear whether Mittal is interested in all of the assets being sold or whether he will look to join forces with another bidder.
