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.
ALL RIGHTS RESERVED © Copyright ANSA
