French Prime Minister Jean-Marc Ayrault said Friday that a deal was reached with steel group Arcelor Mittal and that a plant under the threat of closure would not be nationalised.

The government has not retained "a temporary nationalisation," Ayrault said, after marathon talks with Arcelor Mittal, adding that the steel group has committed to invest 180 million euros ($234 million) over five years in the endangered Florange site in northeastern France.