The wait for offers for the acquisition of steelworks of Italy in extraordinary administration, the former Ilva, rises.
At the expiry of yesterday, at 24, they arrived the all of all the three groups in race To take the entire steel group with its connected factories and companies: Baku Steel Company, Jindal International and Bedrock, whose origin is Azerbajian, India and the United States respectively; The first two steel companies, the third investment fund.
In the morning a communication is expected, it is certainly not if of the Minister of Business, Adolfo Urso, or of the commissioners of ADI, Fiori, Quaranta and Tabarelli, on the conclusion of the race.
The latter was launched in late July with a International announcement And on the date of September 20 he saw the arrival of the demonstrations of interest of which for the company’s company and the others for individuals, specific assets. Apparently, last night late there would not have been a first, summary examination of the three relaunches arrived, but only the feedback that Baku, Jindal and Bedrock actually relaunched. The last updated offer would have arrived shortly before 24, then on the edge of the deadline.
Urso would have been communicated by the arrival of the relaunches. And precisely because the last proposal has come to extremis, there would have been no time for a first examination of merit, which will begin in the next few hours. Also because these are documents to be examined with attention that invest multiple profiles.
In the last few hours the rumors have become more insistent, also of national union sources, indicating in Baku Steel the next steel manager Despite the progress made by other competitors. Furthermore, the hypothesis that Baku and Jindal could unite their forces and present a single offer, since the three presented themselves individually, did not have any concrete following.
Indeed, even before the closing of the relaunches, the offer of the Azeri – who have both the great availability of gas that serves for the transition from the altiforni to electric ovens, and the alliance with Azerbaijan Investment Company Ojsc, founded in 2006 by Government of the Republic of Azerbajian which holds 100% of the capital – it presented itself better than those of Jindal and Bedrock.
The azeri in fact, before the last step, they would have offered a billion for the company – 500 million for the warehouse and as many for the system – and the maintenance of 7,800 jobs for two years, requires this indicated in the sales call, on the just under 10 thousand which are the staff of all ADI at the end of January 2025 .
The employment theme It is in fact one of the priorities together with the decarbonisation of steel production and environmental investments. And have a Very high number of redundancies He would have complicated things, already not easy, considering that the passage, in 2018, from Ilva in extraordinary administration to Arcelormittal created redundancies, currently about 1,700 in extraordinary layoffs to zero hours for several years, of which 1,474 only in Taranto and 206 In Genoa on 30 June 2024.
In environments close to the dossier, it is observed that Baku, Jindal and Bedrock have shown that they are serious companies
since until the last moment they worked, asked and deepened. It is true that the relaunches occurred exceed the previous offers of 10 January last, but if there were no adjustments from one or more groups compared to this date, however the proposal of January 10 would still be worth and remained on the table.
Now, once determined the best offer the exclusive confrontation with the proponent will start with the view or to get to further improvements, or to the drafting of the sales contract on the basis of the last proposal presented. Finally, it is not excluded that the group that ADI will acquire can in turn sell some specific assets to third parties of the group if not considered of his interest. But it will be necessary to understand from the industrial plan of the winner if some less central activities than the factories of Taranto, Genoa, Novi Ligure and Racconigi, have priorities or not. In this case, the buyer would still buy everything – because the announcement privileged those who have moved forward for the‘ Unitary purchase – To then give up the complementary units later.