Arcelor Mittal-Marcegaglia consortium wins ILVA competition

Calenda to make final decision Tuesday

(ANSA) - Rome, May 26 - The Arcelor Mittal-Marcegaglia consortium has beaten competitors and is expected to land troubled Italian steel group ILVA, sources said Friday. The ranking of the bids will be issued shortly, with Arcelor Mittal-Marcegaglia at the top, they said. Key elements in the successful bid are the price, which is reportedly just under two billion euros, the environmental impact of the takeover plan, and the business plan itself.
    The winning bid has not been adjudicated yet, industry ministry sources stressed. "The commissioners presented to the oversight committee the results of the competition and their adjudication proposal," they said. Industry Minister Carlo Calenda will weigh the proposal over the coming days and will make his decision after meeting trade unions on Tuesday, the sources said.
    Arcelor Mittal is an Anglo-Indian steel giant while the Marcegaglia steel group is owned by the Italian family of the same name.
    ILVA was put up for sale after the court-ordered seizure of assets at its highly polluting Taranto plant, which is being cleaned up and turned around.
   

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