Ex Ilva, costs of the deal and the groups involved: all the details
Cernobbio– Who will buy the ex-Ilva? Many are wondering this now that the other large Italian plant, that of Leadnow seems to be definitively on the way to tandem Metinvest-Jsw. But the Taranto story it is much more complex and, in some ways, chronic.
Of the two blast furnaces currently in operation, only one is performing its function fully, the other is, so to speak, half-service. But the money to buy raw materials there are no and the company, thein extraordinary administrationis not bankable and therefore lives a daily struggle for survival. Therefore, the minister Adolfo Urso from the kermesse of Affaritaliani.itThe Squareexplained that there are several interested groups.
But be careful because the vocabulary is fundamental. At the moment we are talking about expressions of interest, that is, a first form of “approach” in which we do not talk about figures and strategies but essentially state that we want to sit around a table. In addition to the minister and the commissioners, at the moment there are at least four interested parties. The Marcegaglia Groupwhose main supplier is Ilva and which, for interest and patriotic reasons, cannot back out; there are the Ukrainians of Metinvest that they will want to take a look at; there are the Americans of US Steelwhich at the moment seems to be in the lead; and the Italian ArvediJindal, who is a distant relative of Mittal and would be viewed with suspicion in Taranto and the surrounding area, should not sit.
In the last few days some figures have been circulating: there was talk of 1.5 billion but well-informed sources report that much more is needed to give new impetus to the Taranto plant. Not to mention that there is more than one suspicion – but no confirmation, of course – that during the management ArcelorMittal not much has been done, to put it mildly, to protect the environment and the territory. Translated: further reclamation works.
There is more. In the document announcing the sale it is clearly written that the most interesting offer for the entire ex-Ilva will be chosen. But if it doesn’t arrive, we could eventually proceed to one unpackingin ways that are still to be defined. According to what he can report Italian Businesstherefore, the Deadline September 20th for expressions of interest should be respected by (at least) four players. The largest steel mill in Europe remains the object of desire for many, but there is no doubt that further guarantees are needed for all those who decide to sit at the negotiating table, before submitting an offer. There is the theme of reclamation, for example, but also that of the legal liability. And it’s a safe bet that this will have to be discussed in great depth.
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