Celsa Steel UK is the UK's largest steel producer with an electric arc furnace production capacity of 1.2 million tonnes of steel per annum at its site in Wales. Celsa Nordic has operations in Norway, Finland, Sweden and Denmark and manufactures at its plant in Mo i Rana, Norway, with a production capacity of 683,000 tonnes of rebar and wire rod in 2023.
Celsa said, that “will use all funds received after the sale to reduce the debt of Grupo Celsa in accordance with its legal obligations.”
The transaction price is not has been disclosed, although Spanish newspapers, citing industry sources, report it amounted to 600 million euros ($632 million).
“With this important asset sale, which is complemented by a recent increase in share capital and the launch of an ambitious plan efficiency, Grupo Celsa continues to implement its plan to reorganize its industrial and financial situation, focusing on its activities in Spain and on reducing its financial leverage,” said Celsa
Earlier this year, Celsa said it was considering selling its international operations in Norway, Poland and the UK to pay off debts, and in October parent company Celsa Steel approved a €166 million capital increase to finance a complex initiatives to improve efficiency and growth.
This is Sev.en's first entry into the steel industry, which has experience in restructuring and expanding acquisition opportunities, particularly in power generation and various natural resources. resources.
“The integration of Celsa's steel mills will expand Sev.en Global Investments' diverse portfolio, adding a combined production capacity of 2 million tonnes of steel products per year. These products, mainly used in construction such as rods, profiles, mesh and wire, underscore the group's unwavering commitment to sustainable industrial practices,” Sev.en said in a statement.
Sev.en Global Investments is part Sev.en Group, the beneficiary of which is the Czech entrepreneur and investor Pavel Tyka.
