ArcelorMittal has reached an agreement with Italian steel company Arvedi on the sale of its La Magona galvanised steel plant in Italy, according to reports.
Arvedi has agreed to pay 50 million euros, equivalent to 59.5 million US dollars, the industry said.
Currently, ArcelorMittal has a 38% market share in the European galvanised steel market, Italy's Ilva has an 8% share and Italy's Marcegaglia has a 6% share.
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