Carlo Calenda, the Italian minister of economic development, has signed a decree to transfer Ilva to the Am Investco consortium, which also includes Italian bank Banca Intesa San Paolo, ArcelorMittal said on Tuesday June 6.
The decision comes just over a week after the three commissioners responsible for running Ilva recommended that the bid led by Am Investco should prevail
over a rival effort led by India’s JSW Steel.
“Our teams are excited to have the opportunity to help Ilva re-establish its position as Italy’s premier steel company,” Lakshmi Mittal, chairman and ceo of ArcelorMittal, said on Tuesday.
“Our plan is supported by a significant investment programme that will enable the company to improve its product mix, win back market share and...