Major steel producers reportedly interested in Lucchini acquisition

Friday, 20 January 2012 15:23:51 (GMT+2)

Indebted Italian steelmaker Lucchini Group, which is owned by Russian tycoon Alexey Mordashov, could remain in Russian hands even after a possible sale, according to the Italian financial newspaper Milano Finanza.

Unspecified financial sources have stated that several steel giants are evaluating the possible acquisition of Lucchini, even if no official bids have been submitted yet. According to the reports, Russian steelmakers Novolipetsk Steel (NLMK) and Evraz Group, as well as Ukraine-based Metinvest, could be interested in the deal.

Also, Indian steel giant Tata Steel is reportedly keeping an eye on developments relating to Lucchini. In 2006, the Indian group acquired Anglo-Dutch steelmaker Corus, renaming it Tata Steel Europe.

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