ArcelorMittal Signs Deal With Ilva Commissioners Over Steel Plant
04 Marzo 2020 - 9:55AM
Noticias Dow Jones
By Giulia Petroni
ArcelorMittal said Wednesday that AM InvestCo Italy and Ilva
commissioners have signed an agreement outlining the terms of a new
investment plan for the future of the Italian steel plant.
The Luxembourg-based steel-and-mining company said Italian
state-sponsored entities would make a "significant" investment into
AM InvestCo by Nov. 30, 2020, "forming the basis for an important
new partnership between ArcelorMittal and the Italian
government."
"The amendment agreement is structured around a new industrial
plan for Ilva, which involves investment in lower-carbon
steelmaking technologies," the company said.
In addition, AM InvestCo agreed to revoke its notice to pull
back from the original agreement and Ilva commissioners to withdraw
their request for an injunction.
The closing of the lease and purchase agreement is now scheduled
for May 2022, ArcelorMittal said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 04, 2020 10:40 ET (15:40 GMT)
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