ArcelorMittal: takeover bid made on Ilva.
(CercleFinance.com) - ArcelorMittal has announced that, with the Italian group Marcegaglia, it has submitted a bid to buy out the Italian iron and steel company Ilva, for which it proposes to increase steel production to 9.
5 million tonnes of finished products.
Under this offer, both groups are committed to investing over 2.3 billion euros (1.1 billion euros in environmental spending and 1.2 billion euros in industrial spending) on the site, in addition to the purchase price.
ArcelorMittal and Marcegaglia are also committed to building a research and development center in Taranto, meaning an initial investment of 10 million euros, in addition to implementing new low-carbon steel manufacturing technologies.
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