Italian investment bank Cassa Depositi e Prestiti (CDP) could join AM InvestCo Italy Srl (AM Investco), global steel giant ArcelorMittal's consortium with Italian steel processor Marcegaglia, in the proposed acquisition of Italian steelmaker Ilva. CDP's stake would be 5.6 percent, with a value of €100 million. According to local Italian media, this could mean that Marcegaglia Group - which currently owns a stake of 15 percent in AM InvestCo Italy - would be out of the consortium, resolving a problem that was raised by the European Commission at the beginning of November:. The European antitrust authorities had concerns that the merger may reduce competition for a number of flat carbon steel products.
Media sources explained that the entry of CDP into AM InvestCo Italy was discussed by ArcelorMittal Europe CEO Aditya Mittal and Italian economic development minister Carlo Calenda during a meeting they had at the end of last week.