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The exclusive negotiation with Flacks Group for the sale of the former Ilva between the extraordinary commissioners of Acciaierie d’Italia and Ilva actually started today, will continue in the next few days and the steel group has not yet been assigned to a new buyer. This is what we learned from sources close to the dossier, after Michael Flacks, founder and president of Flacks Group, in a statement published on the Linkedin profile of the US group spoke of an “agreement reached with the Italian Government for the acquisition” of the former Ilva. After the green light from the supervisory committees of the two companies in extraordinary administration, which gave their favorable opinion to the offer of the US fund specializing in turnaround operations, the commissioners then started the negotiations.
On its Linkedin profile, the US fund also specified a series of details that will be the subject of the negotiation. «We commit up to 5 billion euros to modernize operations, including electrification and modernization of ovens, promoting decarbonization, efficiency and sustainable growth», adds the note which explains that «the Italian Government will remain a strategic partner with a 40% stake, while Flacks Group holds an option to acquire 40% in the future, demonstrating our focus on long-term industrial partnership».
“Our goal is to invest for the long term, modernize responsibly and ensure a long-lasting future for this historic steel plant,” said Michael Flacks, founder and president of Flacks Group.
Scarpa (Fiom), «unacceptable negotiations with speculative funds behind the backs of workers»
«We learn that the extraordinary commissioners of Acciaierie d’Italia and Ilva in extraordinary administration have decided to continue negotiations for the acquisition of the plants exclusively with the American investment fund Flacks Group. It is unacceptable that negotiations take place with speculative funds behind the backs of workers. Now more than ever, the creation of a public majority company is necessary in order to guarantee industrial continuity for decarbonisation and employment.” Loris Scarpa, national steelworks coordinator for Fiom-Cgil, declared this in a note.
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