Aperam to acquire ELG from Franz Haniel & Cie for €357m.

Aperam, a Luxembourg steel producing company, agreed to acquire ELG, a provider of recycling services, from Franz Haniel & Cie, a German family-owned investment holding company, for €357m. ELG will be acquired as a complete group and continue to operate as a fully separate company, serving its customers in their best interests. The transaction is subject to the customary regulatory approvals and expected to close in the second half of 2021. Through the acquisition and next to expanding into complementary geographies and industries, Aperam aims to move forward to the centre of the circular economy and further improve its environmental performance.