ArcelorMittal: Acciaierie d'Italia under Rome's control

(CercleFinance.com) - ArcelorMittal announces the Italian government's decision to place Acciaierie d'Italia (ADI) under extraordinary administration at the request of Invitalia, therefore transferring control from current shareholders ArcelorMittal and Invitalia to commissioners appointed by Rome.


The steelmaker explains that this decision, which puts an end to its involvement in ADI since 2018 (it was previously known as Ilva), comes as a result of a difficult financial situation regarding which it blames the Italian government.

The group says that a turnaround was made even more difficult by the instability caused by the temporary lifting of criminal immunity during the implementation of the environmental investment program, as well as the Covid and energy crises in Europe.


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