Ex Ilva, scade termine per le offerte: Flacks si sfila

The competition for the ex Ilva steelworks is losing its lead to Flacks Group. As the deadline for submission of binding offers approaches, the American fund has decided to withdraw, citing the need to update its offer after meeting with Italian Prime Minister Giorgia Meloni. This comes after the firm had previously stated they were still in contention for the ex Ilva, but were waiting for a government summons to discuss their proposal, which had not yet materialized.

The countdown for the offer submission expires tonight at midnight on Sunday, November 8th. The ex Ilva scenario is still rife with uncertainties, including the recent updated Jindal proposal, which took into account the closure of the hot area, and the Italian camp led by Federacciai, whose chances of transforming the expression of interest into a proposal seem to dwindle.

The bidding process began in July 2024, following then Minister of Enterprises and Made in Italy Adolfo Urso's directive to the extraordinary administration of Acciaierie d’Italia Spa. The deadline had been postponed from October 15th to today, November 8th, to give more time to the entities that accessed the data room. This time around, the conditions are notably different, with the hot area plants definitively shut down following the Cassation Court's ruling, fully implementing the decision set by the Appeals Court of Milan.

The ex Ilva's future is also being mapped on the occupational front, with the company requesting a special integration fund for up to 8,622 workers, representing an increase from the current 4,450. This request was discussed in the latest meeting with the labor minister. However, an agreement has not yet been reached, leaving the future of employment at the ex Ilva uncertain.

The steel industry's green path has been emphasized by Puglia's President Antonio Decaro and Minister Urso, but the path to a viable solution remains challenging. The magistrates' decision to close the high furnaces has sent a clear signal, leaving the focus on green technologies, which have already been implemented in all other Italian steel plants.

The government's commitment to the occupational perspectives and decarbonization was reiterated during the latest Palazzo Chigi table, including talks with participating companies and Rheinmetall. Yet, workers' unions are still waiting for a clear timeline, which according to Alfredo Mantovano, the Undersecretary to the Presidency of the Council, will only be determined once the uncertainty factors are resolved.

With the last hurdle cleared by the Cassation decision, the next steps will be discussed in an upcoming meeting at Palazzo Chigi, scheduled for the middle of November.