Business Standard

JSW Steel, Cevital submit final bids for assets of Italy's Lucchini

Image

Reuters LONDON

LONDON (Reuters) - India's JSW Steel and Algeria's Cevital have submitted their final bids for the Piombino steelmaking complex owned by troubled Italian steelmaker Lucchini.

Lucchini, Italy's second largest steelmaker, was previously owned by Russia's Severstal but was declared insolvent in 2012 and placed under special administration.

The company said on Wednesday that special commissioner Piero Nardi will analyse the bids and submit an initial report to a supervisory committee in Rome on Nov. 21.

(Reporting by Maytaal Angel; Editing by Michael Urquhart)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 19 2014 | 4:21 PM IST

Explore News