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ArcelorMittal to buy Italy's Ilva Steel- The 18th China(Guangzhou) Int’l Plate metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
6/1/2017 -plate metal expo-wire expo |
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According to sources said that the steel giant ArcelorMittal and steel processor Marcegaglia have won a bid to buy Italian Ilva Steel. It is reported that ArcelorMittal and its Italian partner offered US$2.24 billion for the loss-making biggest plant by output capacity in Europe.
Since 2015, Italy has been trying to sell Ilva, after the state took over to clean up the polluted site and save thousands of jobs in an economically depressed area.
A source with knowledge of the matter told to Reuters that the special commissioners in charge of the company chose ArcelorMittal's bid over a rival on from a group including India's JSW Steel. Their final decision now needs to be passed on to Italy's Industry Ministry, which will issue a decree to ratify the decision. -- The 18th China(Guangzhou) Int’l Plate
metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
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