Arvedi is seeking full ownership of the business, rather than only the 51% stake that ArcelorMittal had agreed to purchase from the Italian components maker under a broader bank-debt restructuring agreement.
ArcelorMittal withdrew from the transaction after Rome intervened under its “golden power” rules. The conditions imposed by the Italian state included maintaining existing operations for at least five years and requiring state approval for any workforce or operational restructuring, according to sources familiar with the matter cited by Bloomberg.
The collapse of the buyout paved the way for Arvedi, which had shown interest earlier in the process, to return with an offer for the entire company and plans to increase throughput across its facilities.
AMCLN is currently operating well below capacity, with processed flat steel volumes estimated at 500,000-600,000 tonnes per year compared with a nominal capacity of close to 1 million tonnes per year, an Italy-based distributor told Fastmarkets on Thursday September 10.
“The acquisition would allow Arvedi to streamline downstream distribution and move closer to end-users, bypassing intermediate supply chains,” the distributor said.
The transaction could have a significant long-term impact on the Italian flat steel distribution market, particularly by intensifying competition for independent steel service centres (SSCs), a second Italy-based distributor said.
ArcelorMittal and CLN established AMCLN in 2015 to process and distribute flat carbon steel, with ArcelorMittal initially holding a 49% stake. AMCLN employs about 400 people and recorded revenue of €801 million ($931 million) in 2022. The European Commission had cleared the group’s planned full takeover in late April 2026 before Rome intervened.
The withdrawal comes against the backdrop of long-standing friction between ArcelorMittal and Rome over the former Ilva steelworks (Acciaierie d’Italia), involving disputes over production levels, environmental commitments and governance.
ArcelorMittal declined to comment when contacted by Fastmarkets, while Acciaieria Arvedi and CLN had not responded to requests for comment by the time of publication.
Author: Hristo Rimpopov
