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Parliamentary questions
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9 August 2018
Answer given by Ms Vestager on behalf of the European Commission
Question reference: E-002934/2018

The Monitoring Trustee is in place for to oversee the divestment of the relevant businesses to a new purchaser. The sale is to happen within a set deadline. If the deadline is not met, a Divestiture Trustee will be appointed to take over the sales process. The relevant deadlines, and any possibility to extend the deadlines, are set out in the commitments entered into by ArcelorMittal. The deadlines have been set with a view of avoiding prolonged periods of uncertainty that could harm the divestment businesses. However, due to the sensitive nature of the information, the Commission has a duty not to disclose them. This is the Commission’s standard practice in merger divestitures.

The remuneration of the Monitoring Trustee is a matter agreed between ArcelorMittal and the Monitoring Trustee. Since the Commission has to approve the appointment of the Monitoring Trustee, it has inquired about the terms of the agreement between ArcelorMittal and the Monitoring Trustee. However, the Commission has a duty not to disclose information regarding the Monitoring Trustee’s remuneration as this is confidential information.

Last updated: 9 August 2018Legal notice