The public company files the application after the failure of negotiations with Arcelor Mittal, which in the meantime submits a composition with reservation.
Invitalia has officially submitted a request to the Ministry of Enterprises and Made in Italy for the extraordinary administration of Acciaierie d'Italia, the former Ilva. The decision comes after months of failed attempts to reach an agreement with the private partner Arcelor Mittal.
The public company has acknowledged Arcelor Mittal's unwillingness to contribute financially to ensure business continuity or to dissolve the joint venture in a balanced manner. Immediately afterward, Arcelor Mittal filed a request for a composition with reservation through Acciaierie d'Italia, in what is described as a further manifestation of legal obstructionism.
The crisis of the former Ilva has dragged on for years, with Acciaierie d'Italia managed by the joint venture between the Italian state, through Invitalia, and the steel giant ArcelorMittal. The situation has become unsustainable for the public side after repeated failed attempts at dialogue with the private partner.
ArcelorMittal, whose current chair is Lucia Morselli, had previously sought to exit the agreement with a "heavy" withdrawal. The move of filing for a pre-packaged bankruptcy appears as a further strategy to counter the extraordinary administration requested by Invitalia, in a tug-of-war involving thousands of jobs and a sector strategic to the national economy.
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