The government of the United StateV will have the right sentence for key decisions related to the US Steel Steel Group As part of a partnership with the Japanese company Nippon Steel. The details are set out in the National Security Agreement, which is signed by businesses with the US government, said Senator David McCormick from Pennsylvania, where the US Steel is headquartered on Tuesday. TASR reports this based on Reuters report.
US Steel will have “US CEO with the majority of the US Board of Administration And then there will be a golden action that will basically require the US government to approve several members of the Board of Directors. This will allow the United States to ensure that the production level is not reduced, ”McCormick said in an interview with CNBC.
The planned US Steel and Nippon Fassion was assessed by the National Security Risk Committee on foreign investments in the US (CFIUS). Japanese company submitted in September last year The proposal in which it is committed that most US Steel Board members will be American and that three of them will be subject to CFIUS approval, Reuters said.
President Donald Trump on Friday (23 May) supported the Nippon Steel offer to take over US Steel worth $ 14.9 billionin (13.09 billion euros). He stressed that the United States will continue to control even after the transaction has been completed. According to the World Association data for steel (WSA) US Steel and Nippon Steel It will create the third largest steel company in the world in terms of production. Only the Chinese Baowa Steel Group will be larger in Luxembourg based Arcelormittal.
