ArcelorMittal said it has been served with a writ of summons by the extraordinary commissioners of Acciaierie d’Italia (ADI) and has filed a EUR 1.8 bln (USD 2.14 bln) claim against the Italian government over losses linked to its former investment in the steelmaker.
The move follows claims by ADI’s state-appointed administrators seeking around EUR 7 bln (USD 8.34 bln) in damages from ArcelorMittal, alleging mismanagement of the Italian steel plants formerly operated as Ilva. ArcelorMittal said it strongly rejects all allegations and sees no factual or legal basis for the claims, adding it will defend its position before the relevant courts.
The company said it invested around EUR 2 bln (USD 2.3 bln) in ADI, including significant spending on environmental upgrades required by Italian authorities, and fulfilled its contractual obligations. ArcelorMittal argued that changes to Italy’s legal framework in 2019, including the removal of key legal protections, undermined the project and ultimately led to its withdrawal from the investment.
ArcelorMittal has also launched international arbitration proceedings against Italy, claiming unlawful expropriation and discriminatory treatment, with total damage claims exceeding EUR 1.8 bln (USD 2.14 bln).
1 USD / 0.83 EUR
