Acciaieria Arvedi has submitted an application for the acquisition of ArcelorMittal CLN Distribuzione Italia (AMCLN), a joint venture between ArcelorMittal and CLN-Coils Lamiere Nastri, which distributes rolled products for the automotive industry. This was reported by market sources.
Arvedi is seeking full control of the business, not just the 51% stake that ArcelorMittal previously agreed to acquire from the Italian component manufacturer as part of a broader bank debt restructuring deal.
However, ArcelorMittal abandoned the deal after the intervention of the Italian authorities within the framework of the "golden force" mechanism. According to sources familiar with the situation, the conditions set by the state included maintaining current operations for at least five years, as well as the need to obtain government approval for any restructuring of personnel or production processes.
The failure of the deal opened up the opportunity for Arvedi to return to the process with an offer for the entire asset and plans to increase the workload of its enterprises. AMCLN is currently operating well below its design capacity. The volume of sheet metal processing is estimated at 500-600 thousand tons per year with a nominal capacity of about 1 million tons per year, one of the Italian distributors reported on Thursday, September 10.
According to the source, the acquisition will allow Arvedi to optimize its sales chain and get closer to end users, bypassing intermediate supply chains.
Another Italian distributor noted that the deal could significantly affect the Italian flat rolled products distribution market in the long term, including by increasing competition for independent steel service centers.
ArcelorMittal and CLN established AMCLN in 2015 to process and sell flat rolled carbon steel. Initially, ArcelorMittal owned 49% of the company. The company employs about 400 people, and its revenue in 2022 amounted to 801 million euros ($931 million).
The European Commission approved the planned full takeover of the group at the end of April 2026, but then Rome intervened in the deal.
The rejection of the deal occurred against the background of long-standing disagreements between ArcelorMittal and the Italian authorities related to the former Ilva steel plant. The disputes concerned production volumes, environmental modernization obligations, and enterprise management.
ArcelorMittal declined to comment when contacted by reporters, while Acciaieria Arvedi and CLN did not respond to requests for comment at the time of publication.