CDP to decide to join Arvedi-led consortium for Ilva bid

Italian public investment company Cassa Depositi e Prestiti (CDP) will decide tomorrow, June 29, whether to confirm its participation in the consortium formed by Italian companies Arvedi and Delfin with the aim of making a bid to acquire Italian steelmaker Ilva, while the Turkish steel producer Erdemir Group has pulled out from making a bid, as reported by Reuters. Reuters stated that a Turkish source familiar with the dossier confirmed that Erdemir Group will not be submitting a binding offer for Ilva. 

 

Last week, in an interview with the Bloomberg HT, Erdemir Group CEO Ali Pandir said that Erdemir had examined Ilva’s plants in Italy and analyzed the company details, but had not obtained enough information to make an offer. 

 

Earlier this month, Italian media reports had stated that Erdemir Group and Italy-based Arvedi were planning to form a partnership along with Italian companies Delfin and Cassa Depositi e Prestiti (Cdp) as part of their bid to acquire Ilva.