Two bids have been submitted for the acquisition of the former Ilva steel plants in Italy by the November 8 deadline. The extraordinary commissioners of Acciaierie d'Italia and Ilva, both under extraordinary administration, confirmed today, November 9, that the offers were submitted by Arvedi Group and Jindal Steel International.
Both bids cover the acquisition of all active business assets. The extraordinary commissioners will now review the proposals to assess their completeness and compliance with the requirements set out in the tender.
This new phase of the sale process comes at a particularly critical time for the Taranto steelworks. As previously reported by SteelOrbis on October 30, Italy's Court of Cassation upheld the order to shut down the plant's hot-end operations, rejecting the appeals filed by the companies under extraordinary administration. The issue of production continuity therefore remains unresolved as the evaluation of the acquisition bids gets underway.
