ArcelorMittal says there is no legal basis for the €7 billion ($8.32 billion) claim brought by the special commissioners of Acciaierie d’Italia (ADI) in relation to the Taranto steelworks formerly known as Ilva. The global steelmaking group confirms it has been served with a writ to appear before the Court of Milan.
In a note obtained by Kallanish, the steelmaker rejects all allegations contained in the claim. These include the claim that it induced ADI directors and local management to engage in mismanagement as part of a strategy to run down the Italian assets, damage ADI’s business and extract profits from Italy. It denies that its actions caused damages estimated at around €7 billion.
Since 2021, ADI’s holding company, Acciaierie d’Italia Holding (ADIH), has been under joint and equal control with Invitalia, the Italian state investment entity. Invitalia was appointed by the Italian government to implement a public private partnership to relaunch and ultimately acquire the former Ilva assets.
According to ArcelorMittal, it fulfilled all of its contractual obligations, did not exert improper influence over the management and invested around €2 billion in an attempt to turn around what it describes as “a structurally challenged business”.
The steelmaker argues that shortly after acquiring the former Ilva, operations were “affected by an adversarial attitude and wilful acts and omissions on the part of Invitalia and Ilva as well as omissions and illegitimate legislative interventions by the Italian Government”.
“Most notably, in 2019 – less than a year after ArcelorMittal had commenced leasing the business units – the Italian government removed legal protections that were necessary for ArcelorMittal to implement the environmental plan without risk of criminal liability stemming from the status of the plants. This removal, resulting in an unfulfillment of the conditions precedent to the purchase, ultimately led to ArcelorMittal’s withdrawal from the relevant lease agreement,” the group notes.
Invitalia failed to meet its commitments stated in the relaunch plan, despite several proposals put forward by ArcelorMittal. Moreover, measures adopted in February 2024 allowed Invitalia to place ADI under special administration, which resulted in what ArcelorMittal says was “substantially expropriating” its investment.
Blaming ArcelorMittal overlooks Invitalia’s responsibilities and those of the Italian government under the public private partnership, as well as the impact their actions had on ADI’s output, cash flow and planned investments, ArcelorMittal says.
It adds it has filed several claims related to damage to its investment. In June 2025, it launched international arbitration proceedings against the Republic of Italy, alleging unlawful expropriation and discriminatory, unfair and disproportionate measures, which it says caused losses of more than €1.8 billion.
Earlier this month, ADI’s special commissioners lodged a claim with the Milan tribunal against ArcelorMittal, seeking €7 billion in damages linked to the condition in which ArcelorMittal allegedly left the Taranto plant. The amount increased from the level initially contemplated by the Italian government. In December, Italy’s Minister for Enterprises and Made in Italy, Adolfo Urso, told the Chamber of Deputies that the commissioners were preparing a €5 billion claim against ArcelorMittal over the alleged neglect of equipment at ADI’s Taranto plant (see Kallanish passim).
