Deal for Riva 1.3 bn ILVA compensation

(ANSA) - Rome, December 2 - A preliminary agreement was stipulated on Friday between the Riva family and Riva group and the ILVA steelworks company for 1.3 billion euros in compensation for an environmental clean-up and turnaround of the Taranto plant, government-appointed commissioners said. The Riva family are the former owners of the troubled plant, which has been linked to health problems in the area. The definitive agreement should be signed by the end of February. The deal envisages ILVA gaining access to 1.1 billion euros in assets that have been seized and a further 230 million euros from the Riva family.