Arvedi Group and Jindal Steel International have bid to acquire all operating assets of the former Ilva plants in Italy. The offers were submitted by the November 8 deadline, the extraordinary commissioners of Acciaierie d’Italia and Ilva said on November 9.
Both companies are under extraordinary administration. The commissioners will now check whether the bids are complete and meet the tender requirements.
The sale is taking place amid uncertainty over the operation of the steel plant in Taranto. Italy’s Court of Cassation upheld an order to suspend the plant’s hot ironmaking operations and dismissed appeals by the companies under extraordinary administration. The question of whether production can continue remains unresolved as the buyers’ offers are assessed.