International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of Italian steelmaker Ilva.

This was made with the aim of addressing concerns that the EC has raised during its review of the planned deal. The EC launched an investigation into the agreement in November 2017 due to concerns that it could reduce competition for flat carbon steel products and will lead to higher prices for end users, particularly in Southern Europe.

The proposed divestment package includes assets in the Czech Republic, Luxembourg, Italy, Macedonia and Romania, as well as hot dipped galvanising lines in Liege, Belgium, ArcelorMittal said in a statement.

“The proposal to sell these assets remains subject to final review and approval by the EC and the conclusion of consultation processes with local and European works councils,” the statement said.

Any sales would be conditional upon completion of ArcelorMittal’s acquisition of Ilva.

The EC is expected to reach a final decision on the case by May 23.

ArcelorMittal, one of the world’s five largest producers of iron ore and metallurgical coal, has a presence in 60 countries and an industrial footprint in 18 countries.

The company posted revenues of $68.7bn and crude steel production of 93.1mn tonnes in 2017. Its own iron ore production reached 57.4mn tonnes.