By Carlo Martuscelli

 

ArcelorMittal (MT.FR) said Friday that the AM InvestCo consortium has reached a non-binding agreement with the Italian government over negotiations to rescue the Ilva steel plant.

Discussions would include a state-owned entity taking a stake in the plant, located in Southern Italy, as well as investments in new technology, the steel maker said.

ArcelorMittal said that talks will continue into January, and that in the meantime the consortium as well as the government commissioners have asked that any interim measures regarding the factory be postponed until the end of next month.

ArcelorMittal tried to abandon a 2018 deal to buy the plant following a dispute over legal immunity for cleaning up the site.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

December 20, 2019 07:07 ET (12:07 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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