Italian long steel producer Acciaierie Venete has won a bid to lease Italy-based special steel producer Leali Group for a period of one year. The decision was made by a court in the northeastern Italian city of Trento, which had received an offer from Acciaierie Venete and another from Rome-base scrap trading company Mosteel, whose offer did not meet all procedural requirements. Acciaierie Venete's offer was at the auction base price of €1.1 million. After the one-year lease period, there will be another public auction for the final sale of Leali Group.
Leali Group, currently owned by Switzerland-based investment company Klesch Group, operates billet producing steelworks in Borgo Valsugana, Trento and a special long steel rolling mill in Odolo, Brescia. In 2016, Leali worked at around half of its capacity and recorded a net loss of €21 million.