Two bids have been submitted for the acquisition of Acciaierie d’Italia

According to an announcement by the extraordinary administrators of Acciaierie d’Italia (ADI) and the former Ilva (a company in Taranto), two bids for the acquisition of all the assets of the steel plant were submitted by the December 11 deadline, both from American funds, Sky Italia reports.

The bids came from Bedrock Industries and Flacks Group, Michael Flacks’ US-based investment company specializing in the acquisition and restructuring of distressed companies.

The extraordinary administrators will review these bids to assess their completeness and compliance with the tender requirements. As specified, the tender process remains open: any other bidders may submit their own bids, provided they are better than those already received.

In particular, Flacks Group offered a symbolic amount of €1 for Ilva’s former assets with the aim of developing an industrial project aimed at restoring steel production to 4 million tons per year and employing 8,500 workers. The Italian government will initially retain 40% of the shares, which Flacks will acquire in the future for between €500 million and €1 billion.

According to Michael Flacks, €5 billion will be needed to restore the former Ilva plant in Taranto. He also noted that he has already secured financial support from a group of Italian and American institutions.

According to him, the Taranto plant will benefit from its proximity to the port and the availability of skilled labor.

In November 2025, Acciaierie d’Italia, which is under administrative control, announced the restart of converter No. 1 at the Acciaieria 2 plant in Taranto after an uncontrolled slag spill. Earlier in November, the company carried out a series of shutdowns for maintenance of blast furnace No. 4.