Steel group Ilva stays in Italy: new company with Arvedi and Del Vecchio

Ilva remains Italian. After the setback made in recent days by turkish Erdemir Group, the consortium for the rescue of Ilva has always seen eye with a favor from the government, was born. Yesterday the Board of Directors of Cassa Depositi e Prestiti chaired by Claudio Costamagna has been convened in extraordinary session to decide the new action plan the view of the expiry, in less than 36 hours, the deadline for submission of binding offers .

According to leaks from the board, it would be formalized the decision to create a new company, corporate name AcciaiItalia Spa, which currently has as CDP partners, Delfin Leonardo Del Vecchio, and the Arvedi Group. The new company, as anticipated by the same Giovanni Arvedi in recent days, is open to other partners including the same Erdemir group that has left open the possibility (granted by the call) to get back in the procedure after the troika of experts appointed by the government have expressed their opinion on the environmental plans submitted by competitors, or around November.

According to reports the consortium will be formalized June 30 deadline for submission of binding offers. All shares will remain below 50%. The management of the steel complex will be the Arvedi Group. To finance the project is planned issue of bonds by banks. The share of the CDP would be around 45%, that of Delfin between 30-35% and Arvedi to be under 20%.