International Steel Mills
CRU: Bids made for Ilva assets
Written by CRU Group
October 2, 2025
The analysis below was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.
The Italian government has received 10 offers for the former Ilva integrated steel works at Taranto, but only two bidders are interested in purchasing all of the company’s assets, said operator Acciaierie d’Italia (ADI).
They are US investment company Bedrock Industries and a consortium of US private equity firm Flacks and Slovak steel trader Steel Business Europe. Italian steel maker and trader Marcegaglia has expressed an interest in a single asset.
ADI, which manages the works in southern Italy on behalf of the government, said its commissioners need adequate time to examine all the offers, focusing on employment aspects, decarbonisation, and the investment amounts to ensure the plant’s sustainable development.
A previously interested consortium from Azerbaijan as well as Jindal Steel International of India have withdrawn, Reuters news agency reported.
The Azerbaijan group, which included Baku Steel, abandoned its planned investment after local opposition would have prevented deployment of a regasification vessel which was needed for its project to power more environmentally friendly electric furnaces. Jindal has turned its attention to acquiring the for-sale Thyssenkrupp Steel Europe, which is based in Germany.
Once one of Europe’s largest steel plants, Ilva has long produced well below capacity because of operational, management and financial problems. The Taranto works also has the reputation of being one of Europe’s worst polluters, having reputedly caused health problems among local residents.
CRU Group
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