Three candidates have presented offers for the complete takeover of the steelworks declared insolvent and placed under supervision by Italy last year.
Three candidates presented themselves to take over the former giant ArcelorMittal steelworks in Taranto (south), the former Ilva, currently under the supervision of the Italian state: Baku Steel (Azerbaijan), Jindal Steel International (India) and the American fund Bedrock Industries, the economic daily Il Sole 24 Ore reported on Saturday.
These names are the same as those cited on Saturday by the general secretary of the Italian union UILM, Rocco Palombella, in an interview on the continuous news channel Rainews24. Interested candidates had until Friday midnight to submit an offer. In addition to these offers for the complete buyout, seven offers were presented for the buyback of certain assets, according to the unionist.
Rome had appointed in February 2024 a commissioner at the head of the steelworks, placed under the regime of “extraordinary administration” to safeguard its thousands of jobs and revive its production, which had fallen to less than 3 million tonnes in 2023.
The steelworks had been placed under supervision
Among the criteria of the call for tenders are notably “the development of steel production in Italy”, “the commitment to the decarbonization of production processes” and “the protection of employment levels”.
Declared insolvent by the courts, the former Ilva, one of the largest steelworks in Europe, was no longer able to pay its suppliers or pay its gas and electricity bills. Faced with the “refusal” of ArcelorMittal, former main shareholder with a 62% share, to inject fresh funds, the Italian State, holder of the remaining 38%, decided to end the joint venture and place the steelworks under supervision.
