Jindal and Arvedi submit bids to buy AdI group — ANSA English

In Italy, India’s Jindal and Italy’s Arvedi have submitted binding bids to acquire the former ILVA group, now called Acciaierie d’Italia (AdI). As ANSA English reports, state-appointed administrators received two offers before the midnight deadline.

Offers for production facilities

The administrators said that both offers concern the acquisition of all operating production facilities. AdI’s main operations are concentrated at the large steel plant in Taranto. The group also includes facilities in other parts of Italy, including Genoa and Novi Ligure.

The Italian government is seeking a buyer for the enterprise, which has faced economic difficulties and pollution problems affecting local residents’ health for years. At the beginning of 2024, AdI was placed under state-controlled administration after ArcelorMittal’s ownership of the group ended amid a dispute.

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No other offers received

A consortium of Italian companies led by the steel federation Federacciai, which had previously expressed interest in the Taranto plant, did not submit a bid. The US private investment group Flacks also did not make an offer by the deadline. According to agency sources, Flacks is ready to submit a bid only after a meeting with Italian Prime Minister Giorgia Meloni.

Last week, the furnaces at the Taranto plant were shut down in compliance with a court ruling related to a petition filed on health grounds by members of a parents’ association and a child with a rare genetic mutation. The decision has made the future of the enterprise, its decarbonisation and transition to electric production plan, as well as the employment prospects of thousands of plant workers and suppliers, extremely uncertain.