Global leader in stainless and alloys recycling Aperam announced that the pending acquisition of ELG has been approved by the European Commission and the completion of the acquisition is expected in Q4 of 2021. Aperam had announced in May 2021 a Share Purchase Agreement with Franz Haniel & Cie Gmbh to acquire ELG for an Enterprise Value of EUR 357 million. ELG is a global leader in collecting, trading, processing and recycling of stainless steel scrap and high performance alloys, delivering 1.3 million tonnes of materials annually in 52 locations in 18 countries.Once regulatory approvals are complete, Aperam intends to operate ELG as a fully separate and independent company. ELG will continue to serve all of its customers in their best interests. The acquisition of ELG will put Aperam at the core of the circular economy and enable capturing value in the global recycling industry.Aperam is a global player in stainless, electrical and specialty steel, with customers in over 40 countries. The business is organised in three primary operating segments: Stainless & Electrical SteeL Services & Solutions and Alloys & Specialties. Aperam has a flat Stainless and Electrical steel capacity of 2.5 million tonnes in Brazil and Europe and is a leader in high value specialty products. In addition to its industrial network, spread over six production facilities in Brazil. Belgium and France.