Emirates Steel Arkan said it had not reached any agreement regarding any possible acquisition deal in response to press reports that circulated during the past 48 hours.

It stated that the discussions related to the acquisition deal mentioned in the media are still in very early stages, stressing that it will announce any material information related to any accord in compliance with regulatory regulations and disclosure requirements.

The company pointed out that it is constantly evaluating options to expand its business and enhance the value for its shareholders. This is according to an ambitious growth strategy that aims to capture emerging opportunities in the sustainable, low-emission steel field over the next five to ten years, which it seeks to seize by studying various partnerships to achieve the current and future customers’ interests worldwide.

Moreover, Bloomberg Agency indicated yesterday, quoting its sources, that the Emirates Arkan Steel Company is studying a possible investment in the steel unit of the German company ThyssenKrupp.