Lucchini steelmaker said
it wants to accept a buy offer from Algeria's Cevital Group,
sources said Tuesday.
The second-largest steelmaker in Italy employs 2,000 people
at its plant in the port city of Piombino. Previously owned by
Russia's Severstal, it has been under special administration
since going bankrupt in 2012.
The company received another offer for its core assets in
Piombino from India's JSW Steel Ltd.
Lucchini liked the Cevital offer better because, among
other things, the Algerian company said it would preserve all
2,000 jobs at the Piombino plant.
The company administrator has asked for a formal green
light from the industry ministry, company sources said.
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