Ilva

Ilva in extraordinary administration and ArcelorMittal signed an agreement to modify the lease and acquisition contract, aiming to increase production capacity at the Taranto steel plant from 6 million to 8 million tonnes per year. The deal includes a new electric furnace, relining of blast furnace 5, and a new industrial plan for 2020-2025.

ArcelorMittal completed the acquisition of Ilva S.p.A., Europe's single-largest steelmaking site, through its consortium AM Investco Italy Srl. The transaction is effective from November 1, 2018, and includes a €1.15 billion environmental investment program. Ilva will be renamed ArcelorMittal Italia.

The European Commission granted merger clearance for AM Investco Italy Srl's proposed acquisition of Italian steelmaker Ilva S.p.A., subject to ArcelorMittal's commitment to dispose of assets in several European countries. Closing is expected as soon as possible.

AM Investco Italy, a joint venture of ArcelorMittal and Marcegaglia, submitted the winning bid for the acquisition of Italian steelmaker Ilva S.p.A., including the largest steelmaking plant in Europe in Taranto, for a combined €4.2 billion investment.