Italy's Marcegaglia Says Has Bid For Ilva Steel Plant With Arcelor Mittal

10 May 2016

Italian steel group Marcegaglia has made an offer for Italy's Ilva steel plant along with the world's number one steel producer Arcelor Mittal (ISPA.AS), Marcegaglia's chief executive said on Monday.

"We have made our offer and now we are in discussions," Emma Marcegaglia said on the sidelines of an event in Milan. "We are with Arcelor Mittal, which is the best partner for a complicated turnaround like Ilva."

She added the bidders had asked Italian state lender Cassa Depositi e Prestiti to join in.

A spokesman for Arcelor Mittal declined to comment.

Last year, the Italian state took over administration of loss-making Ilva.


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