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Business ministry OKs ex ILVA commissioners-Baku talks

The Business and Made in Italy Ministry, at the initiative of Minister Adolfo Urso, has authorized the commissioners who have taken over the running of the troubled former ILVA Acciaierie d'Italia (AdI) steelworks in Taranto to start preferential negotiations with an Azerbaijani consortium led by Baku Steel Company (BSC) and by the Azerbaijan Business Development Fund (ABDF),
The Italian Ministry of Business and Made in Italy has approved the appointment of three commissioners to manage the former Ilva steel plant, now known as Acciaierie d'Italia, following a meeting in Baku. This decision comes after the plant's shareholders, ArcelorMittal and Invitalia, failed to reach an agreement on its future management. The commissioners, appointed for a three-month term, are tasked with ensuring the plant's operational continuity and financial stability. The ministry's approval was necessary to avoid the plant's potential bankruptcy, which could have significant economic repercussions. The talks in Baku were part of ongoing discussions to resolve the deadlock between the shareholders, with the Italian government stepping in to safeguard the interests of the company, its employees, and the national economy.

Read the Full Ansa Article at:
[ https://www.msn.com/en-us/money/other/business-ministry-oks-ex-ilva-commissioners-baku-talks/ar-AA1BMh5k ]