Jurisdiction(s):
United Kingdom

Key definition

Purchase price definition

What does Purchase price mean? The price paid by a receivables purchaser to the client for the transfer (assignment/assignation) of a receivable. In receivables finance (factoring, invoice discounting and securitisation), the purchase price is commonly structured as: (i) an initial advance (a percentage of the invoice face value, the advance rate); and (ii) a deferred balance payable as and when debtor receipts are collected, calculated net of the purchaser’s discount, fees and agreed adjustments (for example credit notes, dilutions, set-off, disputes, or recourse/chargeback). Many facilities therefore determine the final purchase price retrospectively by reference to actual collections towards discharge of the receivable, less accrued discount...

European Commission Phase II conditional clearance of ArcelorMittal’s acquisition of Ilva (M.8444), requiring wide divestments across EU flat carbon steel markets

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED

This archived case hub captures the position as at the decision date of 7 May 2018; it is no longer maintained. See further, timeline.

Case facts

Outline: European Commission merger investigation concerning ArcelorMittal’s proposed acquisition of Ilva (Case M.8444). The transaction features horizontal overlaps across markets for flat carbon steel.

Latest development

On 7 May 2018, the Commission conditionally approved the transaction, subject to commitments. In terms of those commitments, it accepted a remedies package requiring divestment of:

production assets in Belgium, the Czech Republic, Luxembourg, Italy, Romania and Macedonia, and
distribution assets in France and Italy.

Parties

ArcelorMittal S.A., a Luxembourg‑based multinational steel producer, is listed on the stock exchanges of Amsterdam, Barcelona, Bilbao, Luxembourg, Madrid, New York, Paris and Valencia. It is the world’s leading steel and mining company, active in 60 countries and operating industrial production facilities in 18 countries.

Ilva S.p.A., currently under the control of the Italian government, manufactures flat carbon steel. Its production facilities are in Italy, with the main site being the integrated steelworks in Taranto, Southern Italy...

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Web page updated on 21/05/2026

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