Nineteen bids for troubled
steelmaker ILVA were admitted to the due diligence phase Monday.
Ten bids were rejected.
There had been, in fact, 29 expressions of interest in
purchasing ILVA assets and affiliates.
They included offers from Luxembourg-based steelmaker
ArcelorMittal, Cremona-based steel manufacturer Arvedi Group,
Milan-based steelmaker EUSIDER, and family-owned Marcegaglia
Group steel processor.
Extraordinary commissioners managing ILVA as the firm
undergoes a massive environmental cleanup and financial
turnaround project assessed the offers.
State-controlled investment bank Cassa Depositi e Prestiti
(CDP) filed an expression of interest last Tuesday.
A court this year declared ILVA insolvent, with debt
totalling nearly three billion euros.
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