ArcelorMittal has rejected Tauron's deal

European steelmaker ArcelorMittal has decided not to acquire Polish energy producer Tauron Polska Energia's shares in its joint venture Tameh Holding. According to a statement by Tauron Polska Energia on January 2, ArcelorMittal's offer to buy ArcelorMittal's shares in Tameh Holding, which includes energy supplier Tameh Czech, for €137 million has been rejected. Currently, ArcelorMittal and Tauron maintain a joint ownership of half of Tameh's shares.

Tameh Czech claims that it is owed more than €81 million from Liberty for energy supply to Ostrava and has not been paid since June 2023. According to a Tameh source, he confirmed that Liberty is still not paying and therefore they are unable to supply energy to Ostrava. Tameh, which is the only energy supplier of the Ostrava plant, is also reported to face difficulties in electricity supply if Liberty fails the payments.

ArcelorMittal also reportedly demanded payment of a €140 million arbitration award related to Liberty's 2019 acquisition of certain assets, including Ostrava in the Czech Republic and Galati in Romania.