According to local Italian media, global steel giant ArcelorMittal and Italian steel processor Marcegaglia have won the tender to buy troubled Italian steelmaker Ilva. The decision, made by Ilva's special commissioners, needs to be passed on to Italy's industry ministry, which will issue a decree to ratify the decision.
ArcelorMittal and its Italian partner offered €1.8 billion for the assets of Ilva, sources said. A few months ago, ArcelorMittal said it would aim to bring Ilva's crude steel production up to 8 million mt per year, from the current 6 million mt.
The other joint venture in the running to purchase Ilva was Acciaitalia, composed of steel producers Arvedi and JSW plus two financial partners (Cassa depositi e prestiti and Delfin).