Ilva to repay nearly $100 mln to Italian govt after European ruling on state aid
A European Commission investigation has found that Italy's government incorrectly applied state-aid rules in financially supporting struggling Italian steelmaker Ilva.
The Italian government must now recover €84 million ($99.59 million) from two loans granted to support Ilva, the EC said at the conclusion of its investigation into anti-competitive behavior.
EU state-aid rules only allow the fostering the long-term competitiveness and the efficiency of steel manufacturing, but not the direct support of manufacturers in financial difficulties, the EC said on Thursday December 21.
In 2014 and 2015, the EC received four complaints from market competitors alleging that Ilva had received illegal state aid.