Cleary Gottlieb advises AM Investco Italy, a joint venture of the steelmaking groups ArcelorMittal and Marcegaglia, on the winning bid for the acquisition of the assets of Italian steelmaking group, Ilva S.p.A.
The assets include the largest steelmaking plant in Europe, located in Taranto, for a combined €4.2 billion investment.
Italian lender Intesa Sanpaolo could join the joint venture after the adjudication, as per the memorandum of understanding signed with ArcelorMittal and Marcegaglia.