ArcelorMittal Hunedoara, a subsidiary of ArcelorMittal based in Romania, reached an agreement to sell its entire industrial platform and additional land plots to local group UMB Steel, a civil engineering group, for EUR 12.5 million.

The steel mill previously stopped production in September due to high energy costs and cheap imports. Shareholders will meet on February 9 to vote on the deal, which also requires approval from the Competition Council.

The transaction must meet several conditions by June 1 to become final. This sale includes all physical assets at the western Romanian site.