Turkish steel company Tosyali Holding has announced its withdrawal from the planned acquisition of Liberty Dudelange, according to local media reports. The decision was confirmed by both the economy and labour ministries.
In an official statement, the economy ministry explained that Tosyali made the decision following its due diligence process, which took into account the European Union’s recent adjustments to safeguard measures on steel imports from non-EU countries.
The ministry noted that these changes would have restricted Tosyali’s ability to import steel products from its other plants, significantly limiting the group’s development prospects in the region.
Liberty Dudelange was declared bankrupt by the Luxembourg Commercial Court in December 2023.
The Dudelange plant includes two hot-dip galvanizing lines with an annual capacity of 620,000 tons, two electro-galvanizing lines with an annual capacity of 360,000 tons and a steel service center with a capacity of 150,000 tons per year.