Indian steelmaker Jindal Steel has expressed interest in acquiring troubled Italian flat steel producer Acciaierie d’Italia (ADI), Minister of Enterprise and Made in Italy, Adolfo Urso, told the Senate on 12 March.
“Indian Jindal Group, a leading global steelmaker, submitted an expression of interest last night for the entire steel complex with an ambitious industrial plan, guaranteeing the full decarbonisation process,” Urso said.
ADI has two potential buyers now – Jindal Steel and Flacks Group, a United States-based investment firm focused on the turnaround of distressed businesses.
Market sources suggested that the Italian authorities will review both proposals by 15 April.
Jindal Steel was previously in the running to acquire ADI, but withdrew from the tender in September 2025 as it was unable to reach agreement with the Italian authorities, particularly regarding the plant’s gas supply. The company submitted a non-binding offer for German Thyssenkrupp’s Steel Europe division after abandoning the race for ADI. In the week to 13 March, German media reported that the potential deal between Thyssenkrupp and Jindal Steel could collapse as the parties have been unable to agree on some key issues.
Flacks Group told McCloskey earlier this month that it was considering the acquisition of Thyssenkrupp if Jindal Steel decided to step away from the purchase.
In February, ADI temporarily idled blast furnace (BF) No. 4 for maintenance until the end of April. BF No. 2 was restarted on 10 February. The steelmaker plans to double steel production to 4 mt/y by end April 2026, and to continue operating two furnaces. However, a recent court ruling ordering ADI to suspend production at the Taranto plant from 24 August on health grounds could disrupt those plans.
