Arcelor Mittal, Marcegaglia in ILVA bid if CDP comes in

85%-15% binding offer possible by end-May

(ANSA) - Rome, May 2 - Anglo-Indian steel giant Arcelor Mittal and Italy's Marcegaglia steel group are reasy to bid for troubled steeelmaker ILVA is government bank Cassa Depositi e Prestiti (CDP) comes in with them, sources told ANSA Monday. If CDP agrees to join, the remainder of the consortium will be 85% Arcelor Mittal and 15% Marcegaglia, they said. The two groups had talks with CDP Monday outlining their plans. They said they would make a binding offer by an end-May deadline if the government bank comes into a three-way consortium. ILVA has been put up for sale after the court-ordered seizure of assets at its highly polluting Taranto plant, which is being cleaned up.


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