Swiss Steel's French unit ends talks to sell assets to Italy's Acciaierie Venete

Swiss Steel Holding AG

27/03/2024 06:36

PARIS, March 27 (Reuters) - Swiss Steel Group  STLN.S 
on Wednesday said its French unit Ascometal ended exclusive
talks announced in December over the sale of several of its
sites in France to Italian steelmaker Acciaiere Venete.
    Since the sale of the assets failed, Ascometal's management
has decided to seek court protection for the different companies
put out for sale to allow more time to find a buyer, the
statement said.
    Ascometal intends to sell its plants of Hagondange in
Moselle, Custines in the Meurthe-et-Moselle region, Le Marais in
the Loire area, and the activities and workforce of CREAS,
Ascometal's research centre. 

 (Reporting by Inti Landauro; Editing by Dominique Vidalon and
Tom Hogue)
 ((Inti.Landauro@thomsonreuters.com;))