Global steel giant ArcelorMittal has reversed its decision about the ownership of Acciaierie d’Italia, announcing its willingness to become a minority shareholder in the partnership, as reported by local Italian media.
ArcelorMittal CEO Aditya Mittal, in a letter to Italian prime minister Giorgia Meloni, stated, “The company is ready to become a strategic partner with a minority share, so that we can provide our technical and industrial know-how until the Italian government comes to a final decision about this crucial asset”, adding that they could alternatively sell their shares to another investor at a price equal to the value of their last investment.
This proposal, however, may have come too late. Italian minister of business and made in Italy Adolfo Urso has in fact stated that the company will in any case be put under external administration, at least for now, but he did not prevent the partners from coming to a mutual agreement.