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The Italian Ministry of Enterprises and Made in Italy has authorized the extraordinary commissioners of Ilva and Acciaierie d'Italia to negotiate the sale of the steel complex to Flacks Group. The goal is to finalize the sale by mid-2026.

Flacks Group's offer includes an initial investment of 500 million euros and a commitment to decarbonization, safeguarding around 6,000 jobs while increasing annual steel production capacity to 6 million tons. The plan incorporates two electric arc furnaces producing 4 million tons and a blast furnace for an additional 2 million tons.

The company aims to use DRI and HBI as the primary input for electric furnaces, with natural gas initially serving as the main reducing agent. Flacks intends to announce plans for domestic DRI/HBI production within a few months, likely in Taranto.

The Italian state is expected to retain a 40% stake in Acciaierie d'Italia, with Flacks having an option for an additional 40% later. Approximately 8,500 jobs are to be preserved.