Italian Governaments Invitalia SpA & ArcelorMittal, as shareholders of Acciaierie d'ltalia Holding SpA have entered into a two-year extension until 31 May 2024 of the investment agreement and shareholder agreement originally signed on 10 December 2020, previously communicated to the market. The ownership and governance structure of Acciaierie d'ltalia remains, therefore, unchanged for the next two years.The extension has been necessary considering the non-fulfillment of the conditions precedent on which the implementation of the second envisaged capital increase of Acciaierie d'ltalia depends as well as in order to allow the renewal of the lease of the business units of Ilva SpA in Extraordinary Administration which hassigned an extension of the lease agreement with Acciaierie d'ltalia. An ambitious environmental and industrial investment plan of approximately 1.7 billion euros is also confirmed up to 2026 for the gradual production decarbonization and the absorption of the 10,700 workers employed at the group's plants.
Italian Governaments Invitalia SpA & ArcelorMittal, as shareholders of Acciaierie d'ltalia Holding SpA have entered into a two-year extension until 31 May 2024 of the investment agreement and shareholder agreement originally signed on 10 December 2020, previously communicated to the market. The ownership and governance structure of Acciaierie d'ltalia remains, therefore, unchanged for the next two years.The extension has been necessary considering the non-fulfillment of the conditions precedent on which the implementation of the second envisaged capital increase of Acciaierie d'ltalia depends as well as in order to allow the renewal of the lease of the business units of Ilva SpA in Extraordinary Administration which hassigned an extension of the lease agreement with Acciaierie d'ltalia. An ambitious environmental and industrial investment plan of approximately 1.7 billion euros is also confirmed up to 2026 for the gradual production decarbonization and the absorption of the 10,700 workers employed at the group's plants.
