The authority stated that the transaction would not have a significant negative impact on competition in the Romanian market. The agreement was taken under review in February.
ArcelorMittal Hunedoara had signed an agreement in December to transfer all physical assets located on the industrial platform in western Hunedoara, as well as all land parcels outside the platform, to UMB Steel for EUR 12.5 million (USD 14.8 million).
In October, the company announced that it had permanently halted production as of September 5 due to high electricity prices and increasing pressure from low-cost imports from outside the European Union. This decision followed an earlier announcement that the plant would temporarily reduce operations in 2024 due to a lack of orders.
The UMB Group’s activities include road and bridge design and construction, building construction, production of ferrous metals and concrete products for construction, as well as electricity generation.