Following completion of the transaction, ArcelorMittal has assumed full management control of Ilva, which will form a new business cluster within ArcelorMittal Europe - Flat Products and be known as ArcelorMittal Italia.
ArcelorMittal has a 94.4% stake in AM Investco, with Italian bank Banca Intesa Sanpaolo holding the remaining 5.6%.
“Closing the acquisition of Ilva is an important strategic step for ArcelorMittal,” Lakshmi Mittal, chairman and chief executive officer of ArcelorMittal, said. “Ilva is a quality asset that provides a unique opportunity to expand and strengthen our European presence by acquiring Europe’s single-largest steelmaking site.”
“It is a...