The Italian government has announced that Luxembourg-based steelmaker ArcelorMittal, which has a 62 percent share in Italian steel producer Acciaierie d’Italia (ADI), has rejected the government’s plan to take a controlling stake in ADI through state-owned investment agency Invitalia, which has the remaining 38 percent stake.
The government stated that Invitalia was ready to inject €320 million in ADI to raise its stake to 66 percent. However, ArcelorMittal is unwilling to make financial and investment commitments, even as a minority shareholder.
Meanwhile, last year Invitalia accused ArcelorMittal of a lack of information and of transparency regarding the economic, equity and financial situation of the company, recent corporate decisions, and missed payments, as SteelOrbis previously reported.
