AM InvestCo Inks Non-binding Agreement With Ilva Commissioners - Quick Facts

(RTTNews) - Steel and mining company ArcelorMittal (MT) announces Friday that Am InvestCo Italy Srl consortium has signed a non-binding agreement with the government appointed Ilva commissioners that forms a basis to continue negotiations on a new industrial plan for Ilva, including discussions on a substantial equity investment by a government-controlled entity.

Am Investco Italy is a consortium led by the world's largest steelmaker, ArcelorMittal.

The new industrial plan would contemplate investments in green technology, including through a new company funded by public and private investors.

The negotiations will continue into January. In the meantime, at the hearing today, the Ilva commissioners and Am InvestCo have requested a further postponement, until the end of January, of the Ilva commissioners' application for interim measures.