Italy’s steel giant targets former owner in multibillion-dollar lawsuit

The administrators of Acciaierie d’Italia (ADI), appointed by the Italian state, are seeking compensation of seven billion euros (USD 8.17 billion) from its former owner, ArcelorMittal, the Financial Times (FT) reported, according to Reuters.

As the government in Rome looks for a new buyer for the steelmaker, ADI (formerly known as Ilva) has filed a lawsuit against ArcelorMittal for alleged mismanagement of the plant, FT said, citing a complaint submitted this month to a Milan court, CE Report quotes AGERPRES.

In December, Italy’s Minister of Industry, Adolfo Urso, announced that ADI officials would seek damages of five billion euros from ArcelorMittal. The Italian government took over the administration of the steel plant at the beginning of 2024.

“A detailed financial investigation carried out by officials showed that the company’s financial imbalances are the result of a deliberate and precise strategy, implemented over time, aimed at systematically and unilaterally transferring financial resources from Ilva to the parent company,” the complaint reviewed by FT states.

Representatives of ArcelorMittal and Italy’s Ministry of Economy did not respond to Reuters’ requests for comment.

In September 2025, representatives of the steelmaker announced they had received ten bids for ADI, but only two bidders — a consortium formed by Baku Steel and the Azerbaijan Investment Company, and India’s Jindal Steel International — are interested in acquiring all of the company’s assets.

As reported by CE Report, ADI, which is struggling to maintain production amid rising energy prices and weak demand, is a major concern for Italian Prime Minister Giorgia Meloni, as shutting down the plant would have significant knock-on effects across the country’s industrial sector.