Italy Sounds Out Ukrainian, Indian Investors to Rescue Steel Plant [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: (Bloomberg) — Giorgia Meloni's government is in preliminary talks with domestic, Ukrainian and Indian investors for a potential bid to rescue Italy's biggest steelmaker. Rome is testing the feasibility of a consortium after it moved to place the Acciaierie d'Italia SpA works under special administration, according to people familiar with the issue. The plan is only one of the options that the government is discussing and is at a very early stage, said the people who asked not to be named on a confidential matter. Article content Article content Arvedi Group, Ukraine's biggest steelmaker Metinvest B.V. and India's Vulcan Green Steel — part of Jindal Steel group — are among the firms involved, the people said. ArcelorMittal SA, which owns 62% of the plant formerly known as Ilva, has said that the request for special administration by state investment unit Invitalia, which holds the remainder, ends its role in the plant. The plant in the southern city
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- ArcelorMittal S.A. (NYSE: MT) had its "hold" rating re-affirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $31.00 price target on the stock, down previously from $34.00.MarketBeat
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MT
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MT
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- 4/10/24 - Form 6-K
- 4/8/24 - Form F-3ASR
- MT's page on the SEC website