Taranto, Former Ilva: the recapitalization agreement between the Government and ArcelorMittal fails

The executive delegation led by Giorgia Meloni, composed of ministers Giorgetti, Fitto, Urso and Calderone, met the CEO of the French-Indian group

Di Antonio Fera il 8 Gen, 2024

Taranto, Former Ilva: the recapitalization agreement between the Government and ArcelorMittal fails.

“The Government has taken note of ArcelorMittal's unavailability to make financial and investment commitments, also as a minority shareholder, and has appointed Invitalia to take the consequent decisions, through its legal team". It is with these words, written in a note from Palazzo Chigi, that the Government confirms the lack of agreement on recapitalization with ArcelorMittal.

The table onex Ilva of Taranto summoned to Palazzo Chigi for today was cancelled. The government's request for a capital increase of 320 million euros for the former Ilva, with the simultaneous increase of the state shareholding in the Taranto steel company to 66%, was returned to the sender. The scenarios for the future of the largest Italian steel group are therefore becoming more complicated.

Currently the Franco-Indian group holds 62% of Acciaierie d'Italia, while 38% is in public hands, through Invitalia. The executive delegation led by Giorgia Meloni, composed of ministers Giorgetti, Thick, Urso e Cauldron, proposed to the CEO of the company, Aditya Mittal, the subscription of the share capital increase, equal to 320 million euros, so as to contribute to increasing the participation of the public shareholder to 66%. After the multinational's no, the government instructed Invitalia to hire “the consequent decisions, through its legal team”.

They will be summoned to Palazzo Chigi on Thursday afternoon sindacati to take stock of the situation. “The outcome of the meeting at Palazzo Chigi, between the government delegation and the leaders of Invitalia and ArcelorMittal, confirms what Fim Fiom Uilm have denounced and for which they have mobilized the workers: the need for public control and the lack of will of the private partner to invest resources in the future of the former Ilva", the general secretaries of Fim-Cisl write in a note Robert Benaglia, Fiom-Cgil Michael DePalma and Uilm-Uil Rocco Palombella.