Am Investco wins the tender for Ilva. According to sources close to the dossier, the consortium formed by ArcelorMittal, Marcegaglia and Intesa Sanpaolo, in the "contracted ranking" which will be made official by Ilva, precedes the competitor AcciaItalia, led by the Indians of Jindal and which includes Cdp, Arvedi and Del Vecchio.
The ranking was defined by price, industrial project and environmental remediation program. Am Investco would have offered 1,8 billion, much more than the 1,2 billion offered by AcciaItalia, albeit with less investment.
According to rumors, at the end of the operation Intesa Sanpaolo will become a shareholder of Ilva, transforming at least a part of its credits with the group into shares.
But the award process is not over yet. The decision of Ilva's extraordinary commissioners has yet to be communicated to the Ministry of Economic Development: the ministry will have to issue an official decree to ratify the choice. Subsequently, a period of 30 days will start to verify the compliance of the environmental plan presented by the assignee company with the indications of the Ministry of the Environment, which will issue its own decree by the autumn. At that point, the acquisition contract will become enforceable.
But first, the green light of the European Antitrust will be neededand it won't be easy. Brussels has already made it known that if the antitrust ceilings were exceeded with the Ilva acquisition, serious limitations would be imposed on the buyer: from cutting production capacity to divestments. ArcelorMittal is already the world's largest producer and its market share in Europe well exceeds 30%. With the acquisition of the Italian group, it will acquire a more than dominant position on the continent.
Meanwhile, the Minister of Economic Development Carlo Calenda has convened the general secretaries of Fim, Fiom and Uilm, Ugl Metalmeccanici, Cgil, Cisl and Uil at the ministry offices for 30 May at 12.15 to "communicate the state of implementation - yes law in the document sent to the unions - of the procedure relating to the sale of Ilva plants". The meeting will also be attended by the Deputy Minister Teresa Bellanova and the extraordinary commissioners of Ilva Piero Gnudi, Corrado Carrubba and Enrico Laghi.
