ArcelorMittal: Am Investco Consortium Sent Termination Notice for Ilva Deal
04 Noviembre 2019 - 7:29AM
Noticias Dow Jones
By Pietro Lombardi
ArcelorMittal (MT.AE) said Monday that the Am Investco Italy
consortium has sent a termination notice for its Ilva deal to
Ilva's commissioners.
Under the terms of the Ilva deal, closed in October last year,
Am Investco Italy had the right to withdraw from the agreement if
"a new law affects the environmental plan for the Taranto plant so
as to materially impair the ability to operate it or to implement
its industrial plan," the company said.
"The Italian Parliament has removed the legal protection
necessary for the company to implement its environmental plan
without the risk of criminal liability, thus justifying the
withdrawal notice," it adds.
The company also said that a decision issued by a court in
Taranto would affect its ability to implement the industrial
plan.
The company asked the commissioners to take over responsibility
for operations and employees in a month.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 04, 2019 08:14 ET (13:14 GMT)
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